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Kiel Institute support tracker from downloaded data XLS file. All aid to Ukraine cumulative from 2/22/2022 to 5/31/2023 Country $billion %GDP Australia 0.46 0.03 Austria 2.04 0.43 Belgium 1.90 0.32 Bulgaria 0.48 0.57 Canada 5.73 0.29 Croatia 0.36 0.53 Cyprus 0.06 0.22 Czech Republic 1.57 0.56 Denmark 3.01 0.76 Estonia 0.54 1.46 EU (Commission and Council) 29.84 0.17 Finland 1.97 0.66 France 8.11 0.27 Germany 19.58 0.46 Greece 0.74 0.34 Hungary 0.48 0.27 Iceland 0.03 0.13 Ireland 0.84 0.17 Italy 6.28 0.30 Japan 7.19 0.15 Latvia 0.51 1.28 Lithuania 0.76 1.14 Luxembourg 0.22 0.26 Malta 0.03 0.19 Netherlands 7.24 0.71...

Korea's household debt-to-gross domestic product (GDP) ratio was the highest among the world's 34 major economies in the first three months of this year, data showed Monday. This has raised concerns that banks and other financial firms may face higher default rates amid higher interest rates and deepening economic warning signs. According to the latest Global Debt report by the Institute of International Finance (IIF) on Monday, the country's household debt-to-GDP ratio stood at 102.2 percent, topping the list, followed by Hong Kong at 95.1 percent, Thailand at 85.7 percent, U.K. at 81.6 percent and the U.S. at 73 percent....

Peggy Lee sang it best about the US economy under Biden: Is that all there is? According to the Bureau of Economic Analysis (BEA), US GDP QoQ rose slightly to an anemic 1.3%. Actually, this is a terrible print given the trillions in Federal spending after Covid. Even worse, Core Inflation (PCE core prices) rose to 5%. So, unlike what Treasury Secretary Janet “Transitory” Yellen said, core inflation remains high despite M2 Money growth crashing. Here is the rest of the story. Before conservatives have a meltdown over the comments that will be forthcoming from Biden’s Press Secretary Karine Jean=Pierre,...

One per cent of Western Gross Domestic Product (GDP) is a worthy sacrifice to defeat Russia and is dwarfed by what America spent to beat Nazi Germany, says a Ukraine spokesman. Ukraine very much appreciates the near-$37 billion the United States is already giving in military aid but more — much more, in fact — is needed, a Ukrainian diplomat now working as a full-time procurer of military equipment has said. Andrij Melnyk, who is becoming well known beyond the borders of Ukraine for his persistent campaigning to push the envelope on military donations to Ukraine and being one of...

Leave it to the propagandists at The New York Times to try to sprinkle some sugar over an anemic GDP report. The Times economics writer Ben Casselman broke out some confetti for the latest economic report showing a lackluster 1.1 percent GDP growth in the first quarter, which was notably slower than the 1.9 percent forecast. But look on the bright side, bleated Casselman in his sub-headline, “[t]he gross domestic product increased for the third straight quarter as consumer spending remained robust despite higher interest rates.” Casselman’s own headline was heavy on nuance and lacking on context: “U.S. Economy Grew...

Crooner Peggy Lee said it best: Is that all there is? Unfortunately, US GDP grew at a pathetic 1.1% QoQ. Official estimates from the Congressional Budget Office (CBO) show that, since January 2021, legislation signed by President Biden has set in motion a record $3.37 trillion in new spending. And for all that spending, we get a pathetic 1.1% QoQ growth rate? Gross private domestic investment crashed by -12.5% QoQ. This is Biden’s idea of a strong economy? His lame campaign slogan is “Let’s finish the job!” Please don’t Joe! And take Janet “The Evil Hobbit” with you!

As The Fed hikes rates, US GDP has declined in growth to 1.469%, despite trillions of dollars of Federal spending by Biden and Congress. What has all the money gone??

The India-based Megh Updates platform, one of the world’s largest online informational platforms in terms of views, has stated that BRICS countries have officially overtaken G7 in share of world PPP GDP, and that this trend can be expected to continue. The BRICS currently include Brazil, Russia, India, China and South Africa, while the G7 includes Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, as well as the European Union. The BRICS is also expanding – Bangladesh, Egypt and the UAE have all just joined the BRICS New Development Bank, with numerous other countries poised to...

In the infographic below, Visual Capitalist’s Avery Koop and Joyce Max rank the economic output of the top 15 U.S. cities from New York City to Minneapolis, using data from the U.S. Bureau of Economic Analysis. The data covers 2021, which is the most recent release from BEA.It’s important to note that the data considers entire surrounding metropolitan areas, so as an example, New York City includes neighboring population centers such as Newark, NJ, as well as Jersey City⁠—reaching a GDP of nearly $2 trillion.Measuring a city’s economy at the metro level can provide a more accurate representation of its...

The US Federal government reminds me of the Peggy Lee song “Is That All There Is?” Since the outbreak of Covid in 2020 and the absurb spending spree by Pelosi and Schumer, the Federal government has increased their debt by 36% to help pay for the Federal spending spree. That amounts to $54.8 TRILLION in additional Federal debt since January 2020. What did the US economy get for all that Federal spending? In Q4 2022, Real GDP rose by … 0.91% YoY. Seriously? Is that all there is from $54.8 TRILLION in additional Federal debt? What do you expect when...

Yesterday, we saw The Federal Reserve release the minutes of the last meeting. In a nutshell, The Fed is going to keep raising rates. The terminal Fed Funds target rates is now 5.363% for the July FOMC (Fed Open Market Committee) meeting in 2023. This comes as US Q4 GDP was revised lower on weaker consumer spending, revised downward to 1.4% With the revision of Personal Consumption, real GDP was revised downward to 2.7% annualized QoQ. The Taylor Rule estimate for The Fed Funds Target rate is 10.15%. The Fed is only at 4.75%, so there is a long way...

Today’s GDP report from the BEA reminds me of the Peggy Lee song “Is That All There Is?” Between the massive Fed monetary stimulus since late 2008 (and particularly since Covid in 2020) and all the Federal spending (Covid relief, Inflation reduction, Omnipork spending bill, etc.), US real GDP rose by only 2.9% in Q4 from Q3. But signs of slowing underlying demand mounted as the steepest interest-rate hikes in decades threaten growth this year. Gross domestic product increased at a 2.9% annualized rate in final three months of 2022 after a 3.2% gain in the third quarter, the Commerce...

Real gross domestic product (GDP) increased at an annual rate of 2.9 percent in the fourth quarter of 2022, after increasing 3.2 percent in the third quarter. The increase in the fourth quarter primarily reflected increases in inventory investment and consumer spending that were partly offset by a decrease in housing investment.

Albert Collins said it best about the US economy under Joe Biden: “Lights Are On But Nobody’s Home”. The Federal Reserve forecast for the US economy is a dismal 0.50% YoY. Do I detect a trend? The FOMC forecast for 2023 and 2024. Core PCE YoY (inflation) is forecast to drop to 3.50%, still considerably higher than The Fed’s target rate of inflation of 2%. And unemployment is forecast to be 4.60%. To cope with Bidenflation, US personal savings rate as of October is -67.9% YoY. The “good” news is that rents YoY are crashing. But food prices under Inflation...

The numbers: The economy grew at an annual 2.9% pace in the third quarter, updated figures show, and the U.S. is on track to expand again in the waning months of 2022 despite growing worries of recession. Gross domestic product, the official scorecard for the economy, was revised up from a 2.6% rate of growth in the preliminary reading issued last month. GDP had shrunk in the first two quarters of the year. The economy is forecast to expand again in the fourth quarter running from October to December, but estimates vary from as much as 4% to less than...

I’m getting so tired of the Burleigh’s here ignoring history, so here’s the actual economic statistics of the two Presidents. Reagan came to office in January 1981, with the 30-year mortgage around 13.15%, while Trump took office in January 2017 with the mortgage rate at 4.08%. In Reagan’s day, the Federal Reserve did not pump ludicrous amounts of money into the economy with asset purchases; in fact, the opposite was true. The Fed was tightening so tightly that Reagan lost the midterms badly because of it. Reagan had to endure two years of Volcker’s policies to fight inflation, so let’s...

The growth came in large part due to a narrowing trade deficit, which economists expected and consider to be a one-off occurrence that won’t be repeated in future quarters.

WASHINGTON — US economy returned to growth in July-September period after 2 straight negative quarters, expanding at a 2.6% rate. The U.S. economic growth rebounded strongly in the third quarter amid a shrinking trade deficit, but that overstates the economy's health as domestic demand was the weakest in two years because of the Federal Reserve's aggressive interest rate hikes. The Commerce Department's advance third-quarter gross domestic product report on Thursday also showed residential investment contracting for a sixth straight quarter as the housing market buckles under the weight of surging mortgage rates. While overall inflation slowed substantially from the second...

The growth rate of real gross domestic product (GDP) is a key indicator of economic activity, but the official estimate is released with a delay. Our GDPNow forecasting model provides a "nowcast" of the official estimate prior to its release by estimating GDP growth using a methodology similar to the one used by the U.S. Bureau of Economic Analysis. GDPNow is not an official forecast of the Atlanta Fed. Rather, it is best viewed as a running estimate of real GDP growth based on available economic data for the current measured quarter. There are no subjective adjustments made to GDPNow—the...

Latest estimate: 0.3 percent — September 20, 2022 The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2022 is 0.3 percent on September 20, down from 0.5 percent on September 15. After this morning's housing starts report from the US Census Bureau, the nowcast of third-quarter residential investment growth decreased from -20.8 percent to -24.5 percent.