WASHINGTON (AP) -- U.S. job growth slumped in April for a second straight month. It suggested an economy that is growing steadily but still sluggishly, which could further tighten a close presidential race....
OTTAWA – Canada’s Conservative government does not expect to launch a new round of fiscal stimulus despite the possibility of weaker-than-expected growth in the first quarter, Finance Minister Jim Flaherty said on Wednesday.
“I don’t see the need for it, quite frankly. I think we have adequate economic growth, and I think the prospects for stronger economic growth later in the year and next year are good,” Flaherty told a news conference.
I think the prospects for stronger economic growth later in the year and next year are good
OTTAWA — The Prairies will likely lead economic growth in cities again this year, but don’t count out other areas in central and eastern Canada — they’ll be playing a bit of catch-up as the manufacturing sector and other stalled industries start to get back on track.
Those forecasts, delivered Wednesday by the Conference Board of Canada, could shine some welcome light on the national landscape, where the economic recovery is viewed as uneven after a strong initial bounce-back from the 2008-09 recession.
US stocks sold off on Thursday, led by a drop in the Nasdaq, as Apple shares declined and results in tech and biotech names disappointed. Upbeat economic reports added to uncertainty about the outlook for interest rates, a day after data showed the US economy slowed to a crawl in the first quarter and the Federal Reserve pointed to weakness in the labor market and other areas of the US economy. Despite the day's decline, all three major indexes posted slight gains for April.
Submitted by Lance Roberts of STA Wealth Management, The release of the final estimate of the Q1-2014 Gross Domestic Product report took most everyone by surprise by plunging to a negative 2.9% versus a negative 1.8% consensus. However, not to fear, the ever bullish media spin machine quickly stepped in to assuage fears by stating:
Charles Lieberman submits:Household confidence remains low, despite evidence that the economy has been growing for three quarters. Perceptions do not appear to be aligned with the economic outlook.News accounts remain quite mixed, with the usual emphasis on negative interpretations of the data, even when it is positive. This contributes to the sense of concern.
Marc Chandler submits:The US dollar has fully recouped the losses inflicted in the immediate aftermath of the FOMC’s decision to recycle the MBS and Agency bond holding proceeds backing into Treasuries.