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 | -3.1 | -3.4 |
United States Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.11 | -0.43 % | Nov 15 |
| Exchange Rate | 1.13 | 0.65 % | Nov 15 |
| Stock Market | 25,289 | 0.02 % | Nov 15 |
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Economic News
United States: Retail sales growth sharply rebounds in October on surging sales of fuel and motor vehicles
November 15, 2018
Retail sales expanded 0.8% on a seasonally-adjusted month-on-month basis in October, bouncing back markedly from the revised 0.1% contraction logged in September (previously reported: +0.1% month-on-month) and exceeding market expectations of 0.5% growth.
United States: Inflation edges up in October on higher fuel costs
November 14, 2018
Consumer prices rose 0.3% from the previous month in October, up from September’s 0.1% increase and matching analysts’ expectations.
United States: Federal Reserve stands pat in November and remains on track for December hike
November 8, 2018
At its 7–8 November monetary policy meeting, the Federal Reserve’s Open Market Committee (FOMC) unanimously decided to maintain its target range for the federal funds rate at between 2.00% and 2.25%.
United States: Strong payroll gains in October buttress wages, further aided by low-base effect
November 2, 2018
The October employment report showed the U.S. economy adding jobs at a strong pace in the month.
United States: ISM manufacturing index falls in October on broad-based softening
November 1, 2018
The U.S. manufacturing sector slowed in October but continued to register solid growth.
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