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 eases in August
September 12, 2019
Consumer prices rose 0.1% over the prior month in August, down from the 0.3% increase registered in July.
United States: Non-farm payrolls make more modest gains in August
September 6, 2019
The labor market continues to be in good standing midway through the third quarter, however details of the August jobs report shows signs of weakening economic momentum.
United States: ISM manufacturing index falls into contractionary territory for first time in three years
September 3, 2019
The Institute for Supply Management (ISM) manufacturing index fell to 49.1 in August from 51.2 in July, the lowest reading since January 2016.
United States: Second estimate confirms economy slowed in Q2
August 29, 2019
Economic growth in the second quarter was slightly lower than previously reported, according to a second GDP estimate released by the Bureau of Economic Analysis.
United States: U.S.-China trade war heats up with new round of tit-for-tat tariffs
August 27, 2019
Trade tensions escalated to unprecedent levels in recent weeks, with a fresh round of tit-for-tat tariffs from both the U.S and China increasing concerns that the over year-long trade war will persist beyond 2019.
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