Economy

Economy Has Plenty of Offramps Before Stagflation City – Bloomberg

Published

3 years ago

October 19, 2021

With the U.S. economy slowing and inflation rising, there are growing fears of stagflation, a combination of stagnant economic growth and high inflation. The example that comes immediately to mind for most people is the late 1970s and early 1980s, when inflation, interest rates and unemployment all surged to double digit rates, far outpacing real growth in gross domestic product.

The economy is nowhere near in as bad a shape today, but real growth and inflation are moving in the wrong directions. The Atlanta Fed’s nowcast of real GDP growth, net of inflation, estimates that the economy grew at an annual rate of just 1.2% in the third quarter, well below the economy’s long-term growth rate of 3.1% since 1947.

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Economy

September merchandise trade deficit narrows to $1.3 billion: Statistics Canada

Published

8 hours ago

November 5, 2024

Anne Joseph

OTTAWA – Statistics Canada says the country’s merchandise trade deficit narrowed to $1.3 billion in September as imports fell more than exports.

The result compared with a revised deficit of $1.5 billion for August. The initial estimate for August released last month had shown a deficit of $1.1 billion.

Statistics Canada says the results for September came as total exports edged down 0.1 per cent to $63.9 billion.

Exports of metal and non-metallic mineral products fell 5.4 per cent as exports of unwrought gold, silver, and platinum group metals, and their alloys, decreased 15.4 per cent. Exports of energy products dropped 2.6 per cent as lower prices weighed on crude oil exports.

Meanwhile, imports for September fell 0.4 per cent to $65.1 billion as imports of metal and non-metallic mineral products dropped 12.7 per cent.

In volume terms, total exports rose 1.4 per cent in September while total imports were essentially unchanged in September.

This report by The Canadian Press was first published Nov. 5, 2024.

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