Oil prices are climbing again. Since bottoming in late-2008, amid the depths of the financial crisis, crude has nearly doubled. Yet oil is still far below the record higher of $145/barrel reached in July 2008.
Daily Archives: January 28, 2011
US ECONOMY GROWS 3.2% IN Q4:2010
U.S. economic growth picked up speed in last year’s fourth quarter, the Bureau of Economic Analysis reports. But the 3.2% pace of annualized real growth was below economists’ 3.6% consensus forecast. Still, a 3.2% gain for GDP represents a substantial acceleration from the third quarter’s 2.6% rise.
STRATEGIC BRIEFING | 1.28.2011 | DEFICITS & ECONOMIC GROWTH
Fiscal Monitor Update: Strengthening Fiscal Credibility
IMF/Jan 27
The pace of fiscal consolidation in 2011 is now projected to be slower on average, and more varied across countries. The overall pace of deficit reduction in advanced economies in 2011 will be below earlier estimates. On average, fiscal consolidation among the advanced G20, measured in cyclically adjusted terms, is now projected to equal less than ¼ percent of GDP compared to the 1 percent of GDP projected in November. Their debt ratio is anticipated to rise by almost 5 percentage points, to exceed 107 percent of GDP.