Fiscal Balance in USA
USA - Fiscal Balance
Congress approves fiscal package, lifting forecasts for 2011
On 16 December, Congress approved a USD 858 billion tax bill that extends all Bush-era tax cuts for two more years, cuts payroll taxes for one year and prolongs long-term unemployment insurance for 13 months. The package also includes the maintenance of the ceiling for taxes on capital gains and dividends at 15% (contrasting the Democrats' intention to raise it to 20%), among other measures. Market analysts reacted positively to the news and quickly revised their forecasts for the 2011-12 period. The approval of the new fiscal package is likely to boost economic activity in the next two years, with Consensus Forecast panellists raising their 2011 GDP growth forecasts by 0.4 percentage points from last month to 2.8%. For 2012, the panel sees growth accelerating to 3.1%. However, the costs of further supporting the recovery will impose a larger burden on the Obama administration. The U.S. budget deficit is expected to narrow from 10.0% of GDP in 2009 to only 8.5% of GDP in 2011, against last month's Consensus Forecast of 8.1%. That said, the additional threat on the sustainability of the country's public debt is likely to prompt investors to demand higher yields to hold public debt, with the Consensus Forecast for 2011 year-end yields on 10-year Treasury bonds rising from 3.35% expected last month to 3.53% this month.
United States - Fiscal Balance Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Fiscal Balance (% of GDP) | -4.1 | -2.8 | -2.4 | -3.7 | -3.4 |
United States Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.47 | -0.43 % | Sep 04 |
| Exchange Rate | 1.10 | 0.65 % | Sep 04 |
| Stock Market | 26,355 | 0.02 % | Sep 04 |
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Economic News
United States: Inflation edges up in October but core inflation cools
November 13, 2019
Consumer prices rose 0.4% month-on-month in October, up from a flat reading in September and a notch above market expectations.
United States: Labor market slows but shows resilience in October
November 1, 2019
The latest jobs report shows the labor market remained strong at the start of the fourth quarter.
United States: ISM manufacturing index improves but remains in contractionary territory in October
November 1, 2019
The Institute for Supply Management (ISM) manufacturing index rose to 48.3 in October from 47.8 in September; however, the index undershot market expectations of 49.3 and remained below the 50-threshold that separates contraction from expansion in the sector.
United States: Economy cools in Q3 on declining business investment
October 30, 2019
The economy slowed further in the third quarter, but fared better than expected thanks to resilient consumer spending and a weaker drag from the external sector.
United States: U.S. Fed cuts rates again in October but signals pause ahead
October 30, 2019
At its 29–30 October monetary policy meeting, the Federal Reserve’s Open Market Committee (FOMC) voted to cut its target range for the federal funds rate by 25 basis points to 1.50%–1.75%.
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