Starting with a bang
But look more closely at the latest GDP figures, and they are not so rosy
THIS YEAR America’s economy did not get the freshest of starts. A government shutdown, a wobbly stockmarket and concerns that the Federal Reserve would tighten monetary policy too quickly made for a dim outlook for 2019. With the effects of fiscal stimulus fading, and momentum in the global economy ebbing, most expected America’s economic growth to decelerate.
So GDP figures for the first quarter, published on April 26th, were a pleasant surprise. Economists surveyed by the Wall Street Journal had been expecting annualised real growth for the quarter of 2.5%. Instead they were treated to a figure of 3.2%. Needless to say, President Donald Trump was pleased, tweeting that the figure was “far above expectations or projections”, and (of course) adding “MAKE AMERICA GREAT AGAIN”.
The total amount of Iran’s petrochemical exports in the first Iranian month of Farvardin (March 21 – April 20) increased by 18 percent compared to the same period last year despite the US sanctions, data released by the Customs Office showed.
The International Monetary Fund has forecast a deepening recession for Iran's economy this year, projecting real GDP growth of -6% in 2019 after a contraction of 3.9% the year before.
With President Donald Trump’s apparent plans to nominate Stephen Moore and Herman Cain to the Federal Reserve Board, attention has turned once again to the gold standard, a policy option once advocated by both men. Trump himself has expressed admiration for the gold standard.
The World Bank has downgraded Iran's economic growth estimates and forecasts in a new report.
The growing gas prices in the US indicate that Washington is facing a hard decision on the extension of waivers on Iran oil sanctions, an Iranian official said on Sunday.
The US is overwhelmingly likely to fail in its attempt to completely halt Iran's oil exports, analysts told CNBC, with President Donald Trump eager to avoid rising gasoline prices ahead of presidential elections next year.