U.S. household net worth $96.9trn in q3 2017

Rising stock and real estate prices drove U.S. household wealth to $96.9 trillion in the third quarter of this year, a report by the Federal Reserve showed on Thursday. That compares to a downwardly revised $95.2 trillion net worth for households in the previous quarter. Household borrowing rose at a 3.7 percent annual rate in […]

US GDP surges to best level since 2014

A second estimate of third-quarter GDP showed the US economy grew at a 3.3% annualized rate. That was stronger than the 3.2% growth that Wall Street economists surveyed by Bloomberg were expecting and an improvement from October’s advanced reading of 3%. The US economy has registered growth of at least 3%, President Donald Trump’s stated […]

End of NAFTA to trim 0.55% off Canada’s economy- report

A new report concludes the end of the North American Free Trade Agreement would trim just over half a percentage point from Canada’s economy. It finds that the end of NAFTA would shave 0.55% off Canada’s gross domestic product (GDP), push 25,000-50,000 Canadians from the workforce, and reduce exports by 2.8%. The report comes from […]

Statistics Canada to include marijuana in GDP accounts

Canada will start measuring the use and production of non-medical cannabis as the country prepares to legalise the drug. Statistics Canada said Tuesday, according to Bloomberg that it will begin making estimates of current illegal production, sale, and use of marijuana to provide a clearer picture of the “economic and social consequences of the legalization” […]

U.S. consumer prices edging up on rising rent, healthcare costs

Although U.S. consumer prices barely rose in October, the boost to gasoline prices from hurricane-related disruptions to Gulf Coast oil refineries remained unwound, just as rising rents and healthcare costs point to a gradual buildup of underlying inflation. The Labor Department said its consumer price index edged up 0.1 percent last month after jumping 0.5 […]

Economists expect return to steady US job growth after hurricanes

October brought strong job growth of about 250,000 new positions to the U.S. economy, analysts predicted ahead of Friday’s employment report, as the country rebounded from hurricanes Harvey and Irma. The jobless rate was projected to hold steady at 4.2 percent, the lowest level in 16 years, while the year-over-year gain in wage growth was […]

Mexico economy to slow if U.S. quits NAFTA- Fitch

U.S. withdrawal from the North American Free Trade Agreement (NAFTA) would lead to even slower growth for Mexico’s economy, credit rating agency Fitch said Monday. “If the U.S. withdrew from NAFTA, the Mexican economy would face significant uncertainty, which would likely lead to an immediate confidence shock and short-term market volatility,” the agency said in […]