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The White House has just redefined the word “recession” because, well, of course they did. A new GDP report is expected Thursday, which many experts anticipate will show growth declines for a second straight quarter. Since the White House has just put out an updated definition, the Biden administration can plan on evading the r-word entirely. Or so it thinks. “While some maintain that two consecutive quarters of falling real GDP constitute a recession, that is neither the official definition nor the way economists evaluate the state of the business cycle,” the White House wrote. “Instead, both official determinations of...

Everyone's Q1 GDP Estimates Turn Negative Rob WileMay 1. 2014  Yesterday, the BEA announced Q1 GDP climbed just 0.1%. This afternoon, Wall Street is saying it's even worse. Citing weak construction spending data, several firms' GDP tracking models now show Q1 growth fell into negative territory. "Residential construction was a bright spot, rising 0.7% on the month and standing 15.2% above year-ago levels," noted Barclays' Cooper Howes. "Nonresidential construction fell 0.1%, however, and there were downward revisions to February and January. On the whole, this lowered our GDP tracking estimate three-tenths, to -0.2%." Macroeconomic Advisers, a widely cited source...

WASHINGTON (MarketWatch) — The U.S. economy slowed markedly in the first quarter and inflation accelerated, clear evidence of the double whammy on the economy from higher gasoline prices. In its first estimate Thursday, the Commerce Department said gross domestic product rose at a 1.8% annual rate between January and March, slower than the 3.1% pace in the prior three months. Economists polled by MarketWatch had expected a slightly weaker 1.7% growth rate. They blamed the slowdown on weather disruptions and higher gasoline prices, as well as a drop in defense spending. See our economic calendar with forecasts of major indicators....

Japan logs record GDP drop By Tetsushi Kajimoto Tue May 19, 11:51 pm ET TOKYO (Reuters) – Japan's economy shrank a record 4.0 percent in the first quarter as domestic demand and investment buckled, threatening to crush any export-led rebound later this year. The data did add to growing evidence that global trade may have bottomed out in the first quarter. Net exports proved to be less of a drag on the world's second-largest economy than in the previous three months, and companies ran down inventory. While that lent support to the growing chorus of forecasts that the global economy...

<p>May 27 (Bloomberg) -- The U.S. economy grew at a 4.4 percent annual pace from January through March, faster than estimated last month, as businesses replenished inventories, government spending rose and home construction accelerated. Corporate profits over the last year increased by the most in two decades.</p>