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GDP report could fall victim to government shutdown

“For one thing, economists point out that a ream of privately produced reports will give them insight into how the U.S. is performing” writes Jeffry Bartash for marketwatch.com. The U.S. might have topped 3% growth for the third quarter in a row for the first time since 2005, but investors might not hear about it right away if there’s a government shutdown. Source: marketwatch.com Share This:

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China is heading toward a debt crisis that will throw into question everything we think we know about it’s economy

“The big question is how much bad debt China currently has, and how much more it will be producing in the years ahead.”” writes Pedro Nicolaci Da for businessinsider.com. “In the longer-term, however, lending and investing can’t boost GDP if it results in bad debt that is properly written down.Still, concerns about the country’s debt levels have only deepened.By some estimates, they add, China’s true growth rate, after taking the bad debt into account, is barely half the reported 6.9% clip.Since then, a proactive Chinese government and stronger-than-expected global economic growth…

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UK economy grew at weakest pace in five years in 2017 says PwC

“The UK slowdown comes as GDP growth in the eurozone and the US picks up strongly” writes Ben Chu for independent.co.uk. The Office for National Statistics will release its preliminary official estimate for Q4 2017 growth on 26 January.This would take calendar year growth to 1.8 per cent, down from 1.9 per cent in 2016 and the weakest expansion since the 1.5 per cent growth seen in 2012, at the height of the eurozone crisis.PwC’s forecast for the UK is notably weaker than the latest GDP estimate earlier this week from…

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German GDP grew 2.2 percent in 2017, strongest rate in six years

“The German economy grew by a less than expected 2.2 percent in 2017, the strongest rate in six years and an improvement on the previous year, a preliminary estimate from the Federal Statistics Office showed on Thursday” writes unknown author for cnbc.com. Europe’s largest economy is benefiting from rising private consumption and resurgent exports buoyed by a recovery of the global economy.Economists polled by Reuters had expected growth in gross domestic product (GDP) of 2.4 percent after an expansion rate of 1.9 percent in the previous year. Adjusted for calendar…

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Early election forecast: Republicans could lose 38 seats and House majority

“To produce a House forecast, I drew on a forecasting model originally developed by the political scientists Michael Lewis-Beck and Tom Rice” reports washingtonpost.com. Lewis-Beck and Rice’s Senate model is similar to the House model, but includes an additional factor: how many seats the president’s party has up for election.The well-known historical pattern is that the party that does not hold the presidency gains seats in the House in midterm elections. Source: washingtonpost.com Share This:

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Dimon thinks even his own economist at J.P. Morgan is dead wrong about GDP, predicts 4% U.S. growth

“As a whole, we look for the package to boost GDP growth by about 0.3%-pt in 2018 and 0.2%-pt in 2019, according to his recent research report” writes Mark Decambre for marketwatch.com. However, few prominent economists are expecting GDP growth to hit a stellar 4% pace this year.CEO Jamie Dimon, who offered a forecast for U.S. economic growth that outstrips even some of the more bullish economists.Dimon said he expects the “competitive tax rate” to encourage deal-making on Wall Street, pointing to Europe which he said is on pace to…

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America’s top boomtowns: The best places to find a job

“Without further ado, here are SmartAsset.com’s 10 top boomtowns of 2017: I didn’t include each city’s 2016-2017 change in unemployment or its GDP growth” reports foxbusiness.com. For example, you might: It’s a good idea to look for jobs in boomtowns, but don’t rule out slower-growing areas, either, as great job opportunities exist in most places.It can be a bit easier to land your dream job in a boomtown, but it can still be a challenge. Source: foxbusiness.com Share This:

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Global debt level hits $233 trillion record high in the third quarter of 2017, IIF says

“Global debt levels soared to a record high of $233 trillion in the third quarter of 2017, the Institute of International Finance (IIF) said on Thursday, though it noted that robust economic growth meant debt-to-GDP ratios were declining” writes Str Afp for cnbc.com. It was referring to total debt incurred by the household, government, financial and non-financial corporate sectors.The Washington DC-based financial industry body said while total debt had risen by $16 trillion in the third quarter compared to end-2016, debt ratio to global gross domestic product (GDP) had fallen…

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GBP News 

British farmers urged to ‘dramatically’ boost productivity ahead of Brexit 

“British farmers have been urged to “dramatically” increase productivity levels if they hope to survive after Brexit as they are failing to “keep pace” with European rivals and the United States” writes Kate Hoey for telegraph.co.uk. After decades of relying on the EU subsidies, farmers must now boost efficiency to close a “yawning” productivity gap of £4.3bn in lost GDP, according to the Agriculture and Horticulture Development Board (AHDB).”Currently, Britain is falling significantly behind major competitor countries in the rate of growth in productivity, with pace-setters like the USA and…

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Crypto Markets News 

Bitcoin could be adding 0.3% to Japanese GDP

“The rise in the value of bitcoin could be adding 0.3% to Japanese GDP growth, according to Nomura analysts Yoshiyuki Suimon and Kazuki Miyamoto” writes Jim Edwards for businessinsider.com. The market cap of bitcoin traded in yen had increased to roughly ¥5.1 trillion ($4.52 billion) by Christmas Day, Nomura said. Source: businessinsider.com Share This:

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