The US economy has smashed expectations with strong growth in the first quarter of the year. On an annualised basis the world's biggest economy expanded by 3.2pc according to official figures that will be subject to at least two revisions in the coming weeks. This was well above forecasts, many of which were as low as 2pc. The impact of the longest US government shutdown in history earlier this year appears to have been smaller than feared. President Donald Trump expressed his pleasure at the figures on social media, tweeting that the strong expansion had come amid “very low” inflation. However, the positive headline figure may have belied a more complex picture. There was a relatively muted... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week Register … [Read more...] about US economy surges in first quarter with 3.2pc growth
Longest us government shutdown in history
TOKYO -- Asian stocks advanced on Monday as Wall Street rallied after a deal was announced to reopen the US government following a prolonged shutdown that had shaken investor sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.2 percent. South Korea's KOSPI edged up 0.2 percent, New Zealand stocks were up a touch, while Japan's Nikkei bucked the trends and eased 0.2 percent. Australian financial markets were shut for their 'Australia Day' holiday. Facing mounting pressure, US President Donald Trump agreed on Friday to temporarily end a 35-day-old partial US government shutdown without getting the $5.7 billion he had demanded from Congress for a border wall. In response Wall Street rallied broadly on Friday as investors were heartened to see the back of the longest US government shutdown in history. The shutdown had left investors anxious and frustrated as it came at a time of heightened worries over slowing global growth, signs of stress in corporate … [Read more...] about World stocks rise after US government reopens for now
The longest government shutdown in history is now over. But its effects will continue to play out. On Friday, President Donald Trump said the government would reopen for three weeks. By February 15, he said, he expects a deal on border security. But the 35-day shutdown affected multiple layers of the federal government, from its own employees to programs and services that were left fundless and unable to support Americans. The government shutdown is over, as President Donald Trump on Friday announced his support for a plan to reopen the government temporarily. But the 35-day shutdown, the longest on record, will have lingering effects. Here are five ways the shutdown will continue to impact Americans and the US government: Millions who receive food assistance may run out of benefits earlier than usual. Many beneficiaries of the Supplemental Nutrition Assistance Program, formerly known as food stamps, will run out of their food assistance money earlier in February thanks to the … [Read more...] about 5 lingering effects of the longest government shutdown in US history
Trump has cancelled the US delegation to the World Economic Forum in Davos, Switzerland, as the country remains frozen by the longest government shutdown in American history. "Out of consideration for the 800,000 great American workers not receiving pay and to ensure his team can assist as needed, President Trump has cancelled his Delegation's trip to the World Economic Forum in Davos, Switzerland," press secretary Sarah Sanders said in a statement late Thursday. But what is a US government shutdown and how bad is it hurting the government? Euronews answers your most pressing questions about the political deadlock in Washington. What is a government shutdown? In US politics, a government shutdown occurs when Congress fails to pass a bill providing federal funds to government agencies or programmes. When this type of scenario occurs, US law dictates that the government begin a “shutdown” of the affected activities and give a temporary leave of absence to non-essential … [Read more...] about Why is the US in a ‘government shutdown’ and what does that mean?
If the government shutdown doesn’t end by Saturday, it will become the longest in US history. Currently, the longest government shutdown in history took place from 1995 to 1996 under former President Bill Clinton. That shutdown came less than a month after another shutdown in November 1995, and was the result of the same set of budgetary issues. The record ’95-96 shutdown only resulted in 284,000 employees having to miss work, which is less than half of the estimated 800,000 furloughs for the 2018-19 shutdown. Though the two parties were disagreeing about different issues, the 1995-96 shutdown was similar to the 2018-19 impasse in several key ways. The government shutdown that started at midnight on December 22, 2018, is now en route to becoming the longest in US history if Congress doesn’t pass funding bills on Friday. It is unclear when this shutdown will end. President Donald Trump said he won’t budge until the Democrats approve $US5.7 billion for … [Read more...] about The US government shutdown is the longest in US history. Here’s how it compares to the 1995-96 shutdown, widely considered the worst before now.