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, Dec. 10 (Xinhua) -- The U.S. federal government budget deficit narrowed in November, as revenues increased and spending fell, the U.S. Treasury Department said on Wednesday.
The budget deficit was 56.8 billion U.S. dollars in November, down 58 percent from a deficit of 135.2 billion dollars a year earlier.
In the first two months of the fiscal year 2015, which starts Oct. 1 nike air max 270 light bone sale
, the combined budget deficit stood at 178.5 billion dollars, down 21 percent from the same period a year ago.
The non-partisan Congressional Budget Office forecast in a report in August that the deficit would total 4,690 billion dollars in the fiscal year 2015, or 2.6 percent of the gross domestic product, significantly lower than a record high of 10 percent in 2009.
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, Dec. 23 (Xinhua) -- The U.S. economy in the third quarter grew at its fastest pace in more than a decade, supported by robust consumer spending and business investment.
U.S. real gross domestic product (GDP) increased at an annual rate of 5 percent in the third quarter, the U.S. Commerce Department said Tuesday in its final estimate, a remarkable revision from the second estimate of 3.9 percent.
It marked the strongest growth pace for the world's largest economy since the third quarter of 2003. The strong upward revision reflected the strong performance of personal consumption expenditures and nonresidential fixed investment.
Personal consumption, which accounts for about 70 percent of the U.S. economy nike air max 270 grape sale
, grew 3.2 percent, compared with an increase of 2. 5 percent in the second quarter. Exports increased 4.5 percent, slower than an increase of 11.1 percent in the previous quarter.
Nonresidential fixed investment increased 8.9 percent, down from 9.7 percent in the second quarter but up from the previous estimate of 7.1 percent. Residential fixed investment increased 3. 2 percent, down from 8.8 percent in the previous quarter.
After experiencing an unexpected contraction in the first quarter nike air max 270 flyknit mens sale
, the U.S. economy has regained robust growth momentum. The U.S. GDP grew at an annual pace of 4.6 percent in the second quarter, meaning it has now experienced the two strongest back-to- back quarters of growth since 2003.
"The strong GDP growth is consistent with a broad range of other indicators showing improvement in the labor market and increasing domestic energy security," Jason Furman, chairman of the White House's Council of Economic Advisers, said in a statement on Tuesday.
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, the country has already added more jobs in 2014 than in any full calendar year since the late 1990s. Data for the recent months indicated the economy's resilience against the backdrop of a weakening global economy.
According to the latest projections by the Federal Reserve, the U.S. economy will expand at 2.3-2.4 percent this year, higher than its September's forecast of 2-2.2 percent. It maintained its forecast for 2015 GDP growth unchanged at 2.6-3 percent. Considering the improvements in the labor market, the central bank expected the unemployment rate to drop to 5.8 percent this year and further to 5.2-5.3 percent in 2015, both lower than its September's projections.
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, the Fed sharply cut its inflation projections. It expected the price index for personal consumption expenditures to reach 1.2-1.3 percent this year, lower than its September forecast of 1.5-1.7 percent. In 2015, the inflation rate will stay around 1-1.6 percent.
Fed chair Janet Yellen said at a recent press conference that lower energy prices were positive to the U.S. economy, as lower energy prices would boost household demand and act like tax cuts for families.
The Commerce Department on Tuesday also revised upward its estimate of corporate profits in the third quarter. Corporate profits after tax, without inventory valuation and capital consumption adjustments nike air max 270 for sale
, rose 2.8 percent from the second quarter, compared to the previous estimate of a 1.7 percent increase.
Economists widely believe a rapidly strengthening labor market and lower gasoline prices should provide the economy with sufficient momentum in 2015 and keep the Fed on course to start raising interest rates by the middle of next year.
SEOUL, Sept. 25 (Xinhua) -- South Korea's presidential Blue House said Monday that the country had consulted with the United States in advance on the flight of U.S. strategic bombers and fighter escorts in the international airspace last weekend near the Democratic People's Republic of Korea (DPRK).
A Blue House official told local reporters that President Moon Jae-in was briefed on consultations on the flights on a real-time basis during his stay in New York last week, saying the close consultation between South Korea and the United States was reported to President Moon.
B-1B strategic bombers from the U.S. Pacific island of Guam and F-15C fighter escorts from Okinawa, Japan flew in the international airspace over the waters off the east coast of the DPRK Saturday night nike air max 270 shoes sale
, according to media reports.
It was an apparent show of force to the DPRK as the war of words was resumed between Pyongyang and Washington after U.S. President Donald Trump said in his debut speech to the United Nations that his country would have no choice but to "totally destroy" the DPRK if Pyongyang continues to threaten the United States and its allies.
The Blue House official was quoted as saying that the flight operation of U.S. bombers and fighter jets were closely consulted on by South Korea and the United States in advance, and that it was conducted in close cooperation, which means an agreement between the two sides.
President Moon made a four-day trip to New York last week to attend the UN General Assembly and held summit meetings with Trump and Japanese Prime Minister Shinzo Abe.
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