U.S. Business News 2012

U.S. 3% Economy Growth

March 2012
The U.S. commerce department released on February 29 data showing that the U.S. economy grew in the last quarter of 2011 by 3% at annual rate.
The 3% growth is faster than the previous 2.8% forecast and the fastest growth in the last 18 months.
The growth in the third quarter of 2011 was 1.8% .

U.S. September Job Rise

October 2011
103,000 new jobs were added to the American market in September, a pleasant surprise compared to the preliminary forecast of 55,000 jobs.
The department of labor also revised the previous figures for July and August.
The revised job increase in August is now 57,000, compared to the previous estimate of zero rise. The revised rise for July is now 127,000 jobs compared to 85,000.
The unemployment rate remains at 9.1%.

U.S. Credit Rating Downgrade

August 2011
Standard& Poor's cut on August 6 the U.S. credit rating from the previous AAA to AA+, keeping a negative outlook for the American economy.
The downgrade which is the first since granting the AAA rating in 1917 expresses worries that the promised spending cuts by U.S. lawmakers are not enough.
The Treasury spokesman reacted claiming that there is a $2 trillion error in S&P's analysis.

U.S. Unemployment Rate Rise to 9.2%

July 2011
According to preliminary data released by the U.S. labor department on July 8 the unemployment rate for June rose to 9.2% compared to 9.1% in May.
There was a small net increase of 18,000 jobs in June, an increase of 57,000 jobs in the private sector and a decrease of 39,000 jobs in the government and state sector, the lowest growth for the last nine months.
Most forecasts for the second half of 2011 predict a modest growth of the American economy.

U.S. Credit Ranking Downgrade

April 2011
Standard & Poor's credit rating agency downgraded on April 18 U.S.'s credit outlook to negative.
The downgrade is due to worries regarding the big federal budget deficit.
The downgrade signals a one in three chance that the U.S. could lose its long term AAA rating within two years.

U.S. Trade Deficit Narrows

December 2010
U.S. trade gap narrows .The U.S. Commerce Secretary Gary Locke issued on December 10 an optimistic statement regarding October goods and services export.
U.S export of goods and services increased 3.2% from September to $ 158.7 billion, the highest level for monthly exports since August 2008. Service exports reached a record high for the 3rd consecutive month.
U.S. import of goods and services decreased 0.5% in October, allowing the U.S. Trade deficit to decrease 13.2% since September to reach $ 38.7 billion in October.
The highest good export record was to Mexico and China "Today's trade numbers are another sign that we are moving in the right direction" he added.
The pending trade deal with Korea is expected to further elevate the trade relations.
Through October U.S. export to Korea grew by 39% compared to the same period in 2009, making Korea the third largest growth market.
More info: www.commerce.gov.

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