Inside these posts: Economic growth

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Bernanke sees growth picking up, but not jobs

The U.S. economy should grow around 3 percent to 4 percent this year, a healthier clip than in 2010 but not enough to bring down unemployment as much as policymakers would like, Federal Reserve Chairman Ben Bernanke said Thursday.

“We see the economy strengthening. It has looked better in the last few months. We think a 3 to 4 percent-type of growth number for 2011 seems reasonable,” Bernanke said at an event sponsored by the Federal Deposit Insurance Corp. Get the full story »

Survey: Mid-America economy, inflation to grow

The economy in nine U.S. Midwest and South-Central states will likely grow at a healthy pace, albeit with rising inflation, according to a survey of supply managers released on Monday. Get the full story »

Americans say China’s economy is No. 1

Only one in five Americans believe that the U.S. has the world’s strongest economy, while 47 percent believe that China deserves that honor, according to a new poll released Wednesday by Northbrook-based Allstate Corp. and the National Journal.

It’s the first time that the Allstate-National Journal Heartland Monitor Poll has posed the question.

The survey also found that 67 percent of Americans believe that their financial situation will get worse or remain the same in 2011, rather than improve. Get the full story »

Survey: U.S. to see 3 percent growth in 2011

U.S. economic growth and inflation is expected to pick up a bit next year, while the jobless situation will improve slightly, according to a survey conducted by the Federal Reserve Bank of Chicago. Get the full story »

Roubini: U.S. on track for ‘fiscal train wreck’

NYU economics professor Nouriel Roubini. (Stephen Lovekin/Getty Images)

The U.S. economy is a “fiscal train wreck” waiting to happen that risks ushering in a period of stagnation featuring minimal growth, high unemployment and deflationary pressure, U.S. economist Nouriel Roubini wrote on Friday.

In a commentary for the Financial Times, Roubini — one of the first economists to predict the housing crash in the United States and known as ‘Dr Doom’ for his pessimistic forecasts — said fiscal and monetary stimulus had prevented another depression.

But he said that further quantitative easing likely to be announced by the Federal Reserve next Wednesday will have little effect on U.S. growth in 2011, “so fiscal policy should be doing some of the lifting to prevent a double dip recession,” he said. Get the full story »

Economic growth gauge falls to six-week low

A measure of future U.S. economic growth fell to a six-week low in the latest week, while the index’s annualized growth rate rose to an 18-week high, a research group said on Friday. Get the full story »

Number of Americans in poverty jumps to 43.6M

The ranks of the working-age poor climbed to the highest level since the 1960s as the recession threw millions of people out of work last year, leaving one in seven Americans in poverty.

The overall poverty rate climbed to 14.3 percent, or 43.6 million people, the Census Bureau said Thursday in its annual report on the economic well-being of U.S. households. The report covers 2009, President Barack Obama’s first year in office.

Growth slowing in service sector, too

The service sector grew more slowly in June, an industry trade group said Tuesday, offering the latest sign that the economic recovery could slow in the second half of the year.

The Institute for Supply Management, a trade group of purchasing executives, said its index tracking service-oriented companies slid to 53.8 last month from 55.4 in May, the high point since the recovery began. Get the full story »