The ratings of Fitch, one of the three credit rating agencies along with Moody's and Standard & Poor's, impacts the economy of a nation as investors and top companies take them as one of the major factors in taking investment-related decision.
US debt ceiling row: Moody’s Analytics has estimated that a default of no longer than a week would lead to the loss of 1.5 million jobs.
For now, most economists don't foresee a downturn in the near future. Despite the inflation squeeze, consumers — the primary driver of the economy — are still spending at a healthy pace. Businesses are investing in equipment and software, reflecting a positive outlook. And the job market is still booming, with hiring strong, layoffs low and many employers eager for more workers.
Joe Biden, however, acknowledged the US economy has problems but said they were less consequential than the rest of the world has.
However, the 6.5 pc gain was considerably less than the 8.4 pc Dow Jones estimate, Xinhua news agency reported.
US President-elect Joe Biden unveiled a $1.9 trillion coronavirus plan Thursday to end “a crisis of deep human suffering” by speeding up vaccines and pumping out financial help to those struggling with the pandemic’s prolonged economic fallout.
Indian students contributed USD 7.6 billion to the US economy in the academic year 2019-20, even though there was a 4.4 per cent drop in the total number of Indian students, according to a report.
The U.S. economy shrank at a dizzying 32.9 per cent annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%.
In its worst performance in a decade, the US economy contracted by 4.8 per cent in the first quarter due to the coronavirus pandemic that has forced a near shut down of the country, according to the latest governmental advance estimates released on Wednesday.
US Treasury Secretary Steven Mnuchin said on Sunday that the American economy hit hard by the coronavirus pandemic is expected to bounce back later this summer as States begin to open up their businesses in May and June.
US President Donald Trump on Tuesday said short-term recession might simply be the cost of waging his much-needed trade war with China as Beijing had been "grifting off" America for decades
"Our economy is the best in the world, by far. Lowest unemployment ever within almost all categories," wrote Trump on his Twitter account, the Efe news reported.
The rupee rebounded 25 paise to 68.33 against the US dollar in early trade on Thursday, in tandem with other emerging market currencies after Federal Reserve chief Jerome Powell bolstered expectations of a rate cut later this month.
The deceleration of growth in the first quarter mainly reflected a slowdown in personal consumption expenditures, residential fixed investment, exports, and state and local government spending
The Nobel Prize In Economics for 2017 has been awarded to Richard H. Thaler for his contributions to behavioural economics.
The revised figure was US government’s third and final look at GDP for the April-June period.
The growth of the US economy in the January-March quarter was the weakest in last three years.
The head of the International Monetary Fund said Sunday that U.S. President Donald Trump taking office is likely good for the American economy in the short term, though rising interest rates and a strengthening dollar
US economic growth slowed mote than expected in the fourth quarter of 2016 as a downturn is export temporarily depressed the activity.
Washington: The Federal Reserve ended weeks of speculation Thursday by keeping U.S. interest rates at record lows in the face of threats from a weak global economy, persistently low inflation and unstable financial markets.But at
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