The central bank's GDPNow tracker of incoming metrics is indicating that gross domestic product is on pace to shrink by 1.5%.

The Atlanta Fed’s GDPNow on Friday lowered its forecast for the U.S. economy to a contraction at a 1.5% annual rate. This would be the first quarterly contraction in the economy since the first quarter of 2022.

Government spending makes up 6% of total gross domestic product. And besides, spending cuts come with economic ripple effects.

A new analysis shows that the top 10% of earners are behind almost half of all consumer spending, which is almost 70% of GDP.

India's economic growth is expected to have picked-up in the October to December quarter as rural consumption improved following a good monsoon and government spending gathered pace.

A rewind of how the U.S. economy performed in the final three months of 2024 still looks pretty darn good: The increase in gross domestic product was unchanged at a 2.3% annual growth rate. inflation was a bit worse than previously reported,

Canada’s economy perked up in the final months of last year as consumers continued to ramp up their spending, spurred on by the central bank’s rapid-fire interest-rate cuts.

Canada’s economy grew 2.6 per cent in the fourth quarter of 2024, Statistics Canada said on Friday, blowing past expectations as real gross domestic product (GDP) increased 0.2 per cent in December. Economists had expected the economy to grow 1.