China will action economic stimulus package rudders foreign demand for steel
The economy will grow 0.4% in 2017
The US trade deficit fell to $46 billion in January and to $25 billion in February, the lowest monthly gain since 2009, ac우리카지노cording to data released by the Commerce Department Friday.
President Barack Obama’s proposal for a 2% to 3% annual increase in domestic demand this year is “a key element” in boosting industrial production, according to the department. But it comes after Obama had promised a 1% to 2% boost as part of his 2010 stimulus package.
“All signs point to an expanding domestic market and growing demand for American-made goods as a counterweight to Europe,바카라사이트” said Daniel Silverstein, head of research for JPMorgan.
China’s output in January declined for the first time in 11 months, the weakest gain in 14 months. China’s manufacturing output fell a bit less at 0.3% in the January reading from January, in line with China’s annual expansion of 0.5%. Japan’s industrial production grew 0.3% in January, the first decrease in 11 months.
The United States is the world’s leading economic leader, with about 45% of the world’s industrial output and a 10% share of GDP. America has been slow to adopt the new-found focus on domestic demand in an international environment that has seen growth stagnate for much of the 21st century.
But after Obama’s announcement of stimulus in May 2010, the nation’s industrial sector has begun to rebalance. It has picked up strength this y바카라ear, thanks to strong jobs growth and a recovery in exports from oil and other commodity exports.
The recovery is helping push growth up. That’s the first year in which the unemployment rate, measured in the U.S. Labor Department’s official measure of the labor force, has fallen below 8%. It has dipped to 7.6% over the past five quarters, from a peak of 9% during the first six months of 2010.
In a related development on Friday, federal budget data out Friday showed that federal spending on interest on the nation’s debt has slowed to its lowest level since June 2009.
Overall, debt-servicing costs fell to their lowest level since January 2013, according to the data.
Federal borrowing levels fell by 2.1 percentage points on a year-over-year basis to $17.5 trillion in January from $18.4 trillion in January last year, according to the latest figures release