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GDP revised down to 2 1% annual rate in second quarter

ADP Revision: Govt doing opposite of what s needed

It seems the government is doing an about-turn from the austerity stance taken at the start of the fiscal year. Take the case of the annual development programme (ADP). As part of the belt-tightening measures, the finance division in a notice on July 3 last year pared back the programme.

Transcripts for CNN CNN Newsroom 20240604 20:35:00

thereby an assessment of where things stand at the end of the year. after an historic day yesterday after the visit with president zelenskyy, it looks very clearly that his significant $1.7 trillion spending package is on the pathway to passage. we re looking out a year for the white house officials, they viewed as particularly when you compare it back to maybe january of this year where much of the legislative agenda seemed dead. it felt like they were in pretty bad shape economically, and there were very real political questions going into what was going to be a midterm year, the president and his team feel like they re going to be in a you have many better place right now. something that was underscored by the economic numbers that they ve seen over the last couple of weeks including the gdp revision earlier today. we re going to see an element of looking back a little bit, by also looking forward, and perhaps most importantly where things stand right now, and you can just see it ov

Transcripts for CNN Early Start With Christine Romans 20240604 10:47:00

mortgage rates have fallen for five weeks in a row. relief mortgage rates doubled in the fed s rate hike spree to fight inflation. average 30-year fixed rate mortgage, 6.3%. a year ago it was 3.12. looking at markets around the world, asian markets are lower. higher rates are likely in store for 2023. in asia, talk japan is considering 2% inflation target. wall street stock index futures looking to find a footing after a tough week. the dow slipped last week more than 1.5%. the s&p and nasdaq down more than 2%. the s&p 500, this is most likely reflects what what s in your 401(k), down 20% for the year, on track for the worst loss since the financial crisis of 2008. it s the final full week of the year on deck. consumer confidence, home sales, jobless claims, gdp revision and fed s favorite inflation gauge. speaking of inflation, gas

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