India  

US GDP Rose by 2.6% in Q3

Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
US GDP Rose by 2.6% in Q3

US GDP Rose by 2.6% in Q3

US GDP Rose , by 2.6% in Q3.

NBC News reports that America's economy had its first duration of positive growth for the year.

According to the Bureau of Economic Analysis, gross domestic product (GDP) rose 2.6% in the third quarter.

That percentage exceeded the Dow Jones estimate of 2.3%.

President Biden took to Twitter after the report was released.

.

However, NBC News reports that the increase is largely attributed to a narrowing trade deficit which economists don't expect to see again in future quarters.

Increased consumer and government spending, as well as nonresidential fixed investment, propped up gains too.

.

Increased consumer and government spending, as well as nonresidential fixed investment, propped up gains too.

.

But gains were offset by drops in private inventories and residential fixed investment.

.

Overall, while the 2.6% rebound in the third quarter more than reversed the decline in the first half of the year, we don’t expect this strength to be sustained, Paul Ashworth, chief North America economist at Capital Economics, via CNBC.

Exports will soon fade and domestic demand is getting crushed under the weight of higher interest rates.

We expect the economy to enter a mild recession in the first half of next year, Paul Ashworth, chief North America economist at Capital Economics, via CNBC


You Might Like


💡 newsR Knowledge: Other News Mentions

North America North America Continent in the Northern Hemisphere

John Mayer Announces First-Ever Solo Acoustic Tour [Video]

John Mayer Announces First-Ever Solo Acoustic Tour

John Mayer Announces , First-Ever Solo Acoustic Tour. Yahoo Entertainment reports that Mayer will go on tour this spring. He took to Twitter to announce his North American tour which consists of 19 dates. . A fan ticket pre-sale will take place on Feb. 1. Regular ticket sales will begin Feb. 3 at 9:00 a.m. Tickets can be bought via Ticketmaster or Stubhub. The tour begins March 11 in Newark, NJ and wraps on April 14 in Los Angeles, CA. Once that tour is over, Mayer will go on tour with Dead & Company. The Dead & Company tour begins May 19 in Los Angeles. It ends July 16 in San Francisco, CA

Credit: Wibbitz Top Stories    Duration: 01:31Published
'Fears of relocation are real': Danish industry warns of US green subsidies [Video]

'Fears of relocation are real': Danish industry warns of US green subsidies

The Inflation Reduction Act offers generous tax breaks and rebates for green technology, but only if it is manufactured in North America.

Credit: euronews (in English)    Duration: 02:56Published
Upcoming Solar Eclipse Will Be the Last One Visible From the US for Decades [Video]

Upcoming Solar Eclipse Will Be the Last One Visible From the US for Decades

Upcoming Solar Eclipse , Will Be the Last One , Visible From the US for Decades. NBC reports that people in Mexico, Canada and the United States will soon have their last chance to see a total solar eclipse before the next one occurs in 20 years. NBC reports that people in Mexico, Canada and the United States will soon have their last chance to see a total solar eclipse before the next one occurs in 20 years. On April 8, 2024, a total solar eclipse will pass over North America. . According to NASA, it's the last time the contiguous U.S. will see a total eclipse until August of 2044. A total solar eclipse occurs when the Moon passes between the Earth and the Sun, which darkens the sky. . While these events are not uncommon, they only occur over specific parts of the Earth each time. The last time the continent experienced a total solar eclipse was in 2017. . At the time, the path of the eclipse traveled from Oregon to South Carolina. The upcoming eclipse will enter the U.S. in Texas before sweeping across the nation. Other states along the path are Oklahoma, Arkansas, Missouri, Illinois, Kentucky, Indiana, Ohio, Pennsylvania, New York, Vermont, New Hampshire and Maine. NBC reports that viewers outside of the eclipse's direct path will still be able to observe a partial eclipse

Credit: Wibbitz Top Stories    Duration: 01:31Published
2023 Coachella Lineup Announced [Video]

2023 Coachella Lineup Announced

2023 Coachella Lineup Announced. 'Variety' reports that the lineup was announced by promoters Goldenvoice on Jan. 10. Blackpink, Bad Bunny and Frank Ocean will headline. Blackpink, Bad Bunny and Frank Ocean will headline. Blackpink, Bad Bunny and Frank Ocean will headline. Other big-name acts include Bjork, Rosalia, Pusha T. Other big-name acts include Bjork, Rosalia, Pusha T. Other big-name acts include Bjork, Rosalia, Pusha T. The Kid LAROI, Chemical Brothers, Gorillaz. The Kid LAROI, Chemical Brothers, Gorillaz. The Kid LAROI, Chemical Brothers, Gorillaz. Wet Leg, Charli XCX, Christine and the Queens. Wet Leg, Charli XCX, Christine and the Queens. Wet Leg, Charli XCX, Christine and the Queens. Idris Elba, The Breeders, Blondie and many more. Idris Elba, The Breeders, Blondie and many more. Idris Elba, The Breeders, Blondie and many more. The festival will take place April 14-16 and April 21-23. 'Variety' reports that Coachella is the largest music festival in North America. All of the event's 125,000 per-day tickets have already been purchased. . Additionally, festival promoters say that “very limited Weekend 1 passes remain; for your best chance at passes, look to Weekend 2.”

Credit: Wibbitz Top Stories    Duration: 01:30Published
North America recovers from monster storm [Video]

North America recovers from monster storm

The United States and Canada continue to recover from the monster storm that killed dozens over the Christmas weekend.

Credit: euronews (in English)    Duration: 01:00Published

Joe Biden Joe Biden President of the United States since 2021

No comment: MEA on reports about PM Modi's possible visit to US

India on Thursday chose not to comment on reports about a possible visit of Prime Minister Narendra Modi to Washington at the invitation of President Joe Biden.
IndiaTimes
Joe Biden’s beach house being searched by FBI for classified documents | Oneindia News [Video]

Joe Biden’s beach house being searched by FBI for classified documents | Oneindia News

The FBI is searching the beach house of US President Joe Biden for classified documents. #JoeBiden #FBI #Delaware

Credit: Oneindia    Duration: 01:33Published
US manufacturer willing to sell its drone to Ukraine for just a dollar | Oneindia News [Video]

US manufacturer willing to sell its drone to Ukraine for just a dollar | Oneindia News

A firm in the US has asked the Biden administration to okay a deal in which two drones can be sent to Ukraine for only one dollar. #Drone #Ukraine #USA

Credit: Oneindia    Duration: 01:41Published

Biden's beach house searched by US Justice Department

The US Justice Department is conducting a search of a beach house owned by President Joe Biden in Delaware.
Sky News

US President Joe Biden to host PM Modi for state visit in June or July

Prime Minister Narendra Modi's political standing is set to get a boost amid critical domestic and international scrutiny with a likely state visit to the White..
IndiaTimes

Dow Jones Industrial Average Dow Jones Industrial Average American stock market index

Latest Fed Rate Outlook Has Mixed Impact on US Stock Markets [Video]

Latest Fed Rate Outlook Has Mixed Impact on US Stock Markets

Latest Fed Rate Outlook , Has Mixed Impact , on US Stock Markets. Business Insider reports that U.S. stocks saw mixed results as investors reacted to the latest Federal Reserve interest rate outlook. Business Insider reports that U.S. stocks saw mixed results as investors reacted to the latest Federal Reserve interest rate outlook. On January 9, San Francisco Fed President Mary Daly, along with Atlanta Fed President Raphael Bostic, said the central bank is likely to raise rates past 5%. On January 9, San Francisco Fed President Mary Daly, along with Atlanta Fed President Raphael Bostic, said the central bank is likely to raise rates past 5%. According to Business Insider, they also said the Fed is expected to keep rates raised as a means of combating record-high inflation. CME FedWatch suggests 80% odds that another 25-basis-point hike is on the way in February. Investors are also eagerly anticipating the December Consumer Price Index report due out on January 12. That report is a key inflation measure that will have an influence on the central bank's upcoming policy decisions. . At the closing bell on January 9, the S&P 500 ended the day down 0.08%, the Dow Jones Industrial Average ended down 0.34% and the Nasdaq Composite went up 0.63%. . Meanwhile, Bank of America has warned that stock valuations remain too high and the market risks dropping by as much as 30%. Meanwhile, Bank of America has warned that stock valuations remain too high and the market risks dropping by as much as 30%. Morgan Stanley has warned that the S&P 500 could slip an additional 22%. . Morgan Stanley has warned that the S&P 500 could slip an additional 22%. . However, according to Moody's economist, the chances of the U.S. avoiding a recession are growing as the number of layoffs has been below expectations.

Credit: Wibbitz Top Stories    Duration: 01:31Published

CNBC CNBC American television business news channel

James Gunn Unveils DC’s New Film and TV Projects [Video]

James Gunn Unveils DC’s New Film and TV Projects

James Gunn Unveils , DC’s New Film and TV Projects. In October, Gunn and Peter Safran were named co-CEOs of DC Studios. In October, Gunn and Peter Safran were named co-CEOs of DC Studios. CNBC reports that on Jan. 31, Gunn announced a slate of new projects that will comprise the next eight to 10 years of content from Warner Bros. Discovery. In a social media video, Gunn revealed close to a dozen projects for a new chapter of the DC Extended Universe (DCEU), "Gods and Monsters.". New films will include 'Superman: Legacy,' 'The Authority,' 'The Brave and the Bold,' 'Supergirl: Woman of Tomorrow' and 'Swamp Thing.'. New TV projects will include 'Creature Commandos,' 'Waller,' 'Booster Gold,' 'Lanterns' and 'Paradise Lost.'. One of the things that’s very important for me in all of these movies and TV series is that the director’s vision and the vision of the writers and all of the creators is unique, James Gunn, co-CEO of DC Studios, via statement. Gunn also clarified that moving forward, projects that aren't included in the DCEU will be categorized as part of "DC Elseworlds.". This includes a 2024 'Joker' sequel and 'The Batman - Part II,' due in 2025. This includes a 2024 'Joker' sequel and 'The Batman - Part II,' due in 2025. Upcoming 2023 theatrical releases include 'Shazam: Fury of the Gods,' 'The Flash,' 'Blue Beetle' and 'Aquaman and the Lost Kingdom.'. Upcoming 2023 theatrical releases include 'Shazam: Fury of the Gods,' 'The Flash,' 'Blue Beetle' and 'Aquaman and the Lost Kingdom.'

Credit: Wibbitz Top Stories    Duration: 01:30Published
Microsoft Users Hit With Global Cloud Outage [Video]

Microsoft Users Hit With Global Cloud Outage

Microsoft Users Hit With , Global Cloud Outage. CNBC reports that on Jan. 25, Microsoft's cloud platform, Azure, went down and affected products such as Teams, Outlook and more. Downdetector saw a spike in issues with Microsoft 365 products being reported at 3 a.m. ET. Microsoft told customers they may , “experience issues with networking connectivity, manifesting as network latency and/or timeouts when attempting to connect to Azure resources in multiple regions, as well as other Microsoft services.”. We’ve identified a potential networking issue and are reviewing telemetry to determine the next troubleshooting steps, Microsoft, via statement. According to CNN, the Americas, Europe, Asia Pacific, Middle East and Africa were impacted. Microsoft has since reversed a network change that may have caused the disruption. . CNBC reports that by about 9:30 a.m. ET, Microsoft's services were recovered and stable. The outage comes hours after Microsoft reported its earnings for the quarter ending in December.

Credit: Wibbitz Top Stories    Duration: 01:30Published
Amazon Offers Prime Members a Generic Prescription Perk [Video]

Amazon Offers Prime Members a Generic Prescription Perk

Amazon Offers Prime Members , a Generic Prescription Perk. CNBC reports that Amazon debuted RxPass on Jan. 24. The new perk will grant Prime members access to 50 generic medications that treat over 80 conditions. However, insulin and specialty medications are not available. The service is also not accessible to those on Medicaid or Medicare. RxPass costs $5 a month and includes free delivery. The move marks Amazon's latest push into the health care sector. CNBC reports that Amazon launched an online pharmacy in 2020 after acquiring PillPack in 2018. In July, the company revealed it is acquiring One Medical, a primary care provider. . Vin Gupta, chief medical officer at Amazon, said the company strives to create a "fundamentally different" pharmacy experience. . This is still day one for us where we’re at our beginning stages here, but we recognize that change is needed. , Vin Gupta, Amazon chief medical officer, via statement. That’s what patients across the country are telling us, and that’s what Amazon is responding to, Vin Gupta, Amazon chief medical officer, via statement

Credit: Wibbitz Top Stories    Duration: 01:30Published
Microsoft Announces Third Phase, Multibillion-Dollar Investment in OpenAI [Video]

Microsoft Announces Third Phase, Multibillion-Dollar Investment in OpenAI

Microsoft Announces , Third Phase of Multibillion-Dollar Investment , in OpenAI. Microsoft Announces , Third Phase of Multibillion-Dollar Investment , in OpenAI. The new phase of investment in the ChatGPT-maker was announced on Jan. 23. While Microsoft did not reveal the exact amount of the investment. ... CNBC reports that it could potentially reach $10 billion. Microsoft went public about its OpenAI investment in 2019, when the company became the exclusive cloud computing services provider. We formed our partnership with OpenAI around a shared ambition to responsibly advance cutting-edge AI research and democratize AI as a new technology platform, Satya Nadella, Microsoft CEO, via CNBC. According to AI researchers, OpenAI ranks among the top three AI labs in the world. The company's ChatGPT is a text generator that has gone viral since its release in Nov. . Modern AI systems work well for the specific problem on which they’ve been trained, Joint Press Release From July 2022, via CNBC. ... but getting AI systems to help address some of the hardest problems facing the world today will require generalization and deep mastery of multiple AI technologies, Joint Press Release From July 2022, via CNBC. OpenAI and Microsoft’s vision is for artificial general intelligence to work with people to help solve currently intractable multidisciplinary problems, Joint Press Release From July 2022, via CNBC. ... including global challenges such as climate change, more personalized healthcare and education, Joint Press Release From July 2022, via CNBC. We believe that the creation of beneficial AGI will be the most important technological development in human history, , OpenAI Press Release From July 2022, via CNBC. ... with the potential to shape the trajectory of humanity, OpenAI Press Release From July 2022, via CNBC. OpenAI's founding investors include Elon Musk and Sam Altman. . OpenAI's founding investors include Elon Musk and Sam Altman.

Credit: Wibbitz Top Stories    Duration: 01:31Published
Netflix Founder Reed Hastings Steps Down As Co-CEO [Video]

Netflix Founder Reed Hastings Steps Down As Co-CEO

Netflix Founder Reed Hastings , Steps Down As Co-CEO. CNBC reports that Netflix made the announcement on Jan. 19. Greg Peters will join Ted Sarandos as co-CEO. Greg Peters will join Ted Sarandos as co-CEO. Sarandos issued a statement about Hastings stepping down. I want to thank Reed for his visionary leadership, mentorship and friendship over the last 20 years. , Ted Sarandos, Netflix co-CEO, via statement. We’ve all learned so much from his intellectual rigor, honesty and willingness to take big bets — , Ted Sarandos, Netflix co-CEO, via statement. ... and we look forward to working with him for many more years to come, Ted Sarandos, Netflix co-CEO, via statement. Hastings took to Twitter to share that he plans to "serve as Executive Chairman for years to come.". Netflix also revealed its fourth-quarter earnings report. The company says it met Wall Street's expectations and added millions more subscribers than anticipated

Credit: Wibbitz Top Stories    Duration: 01:30Published

Related news from verified sources

RBI cuts FY23 GDP growth forecast to 7% from 7.2%

RBI on Friday cut its GDP forecast for 2022-23 to 7% from 7.2% but retained the inflation projection...
IndiaTimes - Published Also reported by •Zee NewsnewKerala.com


'An Insult': Spanish daily slammed for using snake charmer to portray India's economic growth story

Spain is currently the world's 15th largest economy with a GDP of around $2 trillion while India is...
Zee News - Published

'India needs dedicated wing to release Green GDP estimates'

India needs to set up a dedicated wing in the environment ministry to release estimates of Green GDP...
IndiaTimes - Published


Related videos from verified sources

Top 10 Countries By GDP #usa #china #japan #germany #uk #india #france #brazil #italy #canada [Video]

Top 10 Countries By GDP #usa #china #japan #germany #uk #india #france #brazil #italy #canada

#usa #china #japan #germany #uk #india #france #brazil #italy #canada

Credit: Rumble     Duration: 00:31Published
Nightly News Full Broadcast - Oct. 27 [Video]

Nightly News Full Broadcast - Oct. 27

GDP grows 2.6% as midterms approach; New Uvalde bodycam footage fuels anger over law enforcement response; Putin blames West for war in Ukraine; and more on tonight’s broadcast.

Credit: Rumble     Duration: 19:12Published
Russia’s central bank improves key economic forecasts [Video]

Russia’s central bank improves key economic forecasts

The Central Bank of Russia (BCR) has improved its GDP forecasts for the Russian economy this year, predicting a less severe recession than it previously thought.

Credit: euronews (in English)     Duration: 01:15Published