Recent Articles
- APSU to host OVC Cross-Country Championships
- Austin Peay State University to begin administering COVID-19 Vaccine on March 2nd
- Clarksville Area Chamber of Commerce March 2021 Events
- Leading Through Black Excellence by APSU: Lt. Gen. Ronald Bailey
- Austin Peay State University Softball games today canceled due to Rain
- Clarksville-Montgomery County under Flood Watch until late Sunday night
- Leading Through Black Excellence by APSU: Shelia Bryant
- President Joe Biden’s remarks on American Rescue Plan
- Austin Peay State University Women’s Golf begins play at Kiawah Island Classic, Sunday
- NASA Testing Proves Its Worth With Successful Mars Parachute Deployment
- APSU Women’s Tennis loses 4-2 match to Middle Tennessee
- Austin Peay State University Softball loses to Ball State, defeats DePaul
- APSU Baseball unable to rally back in 5-2 loss to Army
- Marsha Blackburn: We Need Children Back in School
- Tennessee Vols Basketball stumbles at Auburn, 77-72
- Austin Peay State University Men’s Basketball falters at Jacksonville State, 75-67
- President Joe Biden’s Letter to the Speaker of the House, President pro tempore of the Senate Consistent with War Powers Resolution
- APSU Women’s Basketball loses at Jacksonville State, 60-44
- Austin Peay State University Volleyball travels to Eastern Illinois
- Tennessee Governor Bill Lee Signs Executive Orders To Lift Nursing Home Restrictions, Extend Limited State of Emergency
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Topic: GDP
Economic comeback under President Donald Trump breaks 70-year record
October 30, 2020 | 
Washington, D.C. – News broke this morning that real GDP grew at an annualized rate of 33.1% in the third quarter of 2020—beating expectations and setting an all-time record.
This jump in GDP is nearly double the previous record set 70 years ago.
Thanks to President Donald Trump’s policies, the American economy is weathering the global pandemic better than any other major Western country, including those of Europe.
President Donald Trump departs Goodyear, Arizona. (White House)
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In-Depth Look at COVID-19’s Early Effects on Consumer Spending, GDP
Washington, D.C. – On Thursday, April 20th, 2020, the Bureau of Economic Analysis (BEA) released its advance estimate of U.S. GDP for the first quarter of 2020.
BEA estimates that real GDP contracted 4.8 percent at an annual rate in the first quarter of 2020, the first decline in six years. In comparison, real GDP expanded 2.5 percent annually over the first three years of the Donald Trump Administration.
This release confirms that COVID-19’s unprecedented adverse shock to the economy brought an end to the longest economic expansion in U.S. history.
Coronavirus
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Clarksville Weekly Market Snapshot from Frazier Allen for the week of December 6th, 2016
Clarksville, TN – There was a ton of economic data, most of it consistent with moderately strong growth in the near term. Nonfarm payrolls rose in line with expectations in November.
The unemployment rate fell to 4.6% (the lowest since August 2007), but that was partly due to a drop in labor force participation. Average hourly earnings fell 0.1%, following a 0.4% rise in October, up 2.5% y/y (still trending higher, but more moderately than it appeared a month ago).
Frazier Allen
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Clarksville Weekly Market Snapshot from Frazier Allen for the week of November 28th, 2016
Clarksville, TN – Next week, fresh economic figures will arrive, but none of the reports, including the November employment report, are expected to sway the Fed away from raising short-term interest rates on December 14th.
Job growth is expected to have been moderately strong in November, but keep a close eye on average hourly earnings, which have suggested the wage pressures are building (note that the average hourly earnings figures can be quirky – they are often revised the next month – but the trend is higher).
Frazier Allen
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Clarksville Weekly Market Snapshot from Frazier Allen for the week of November 7th, 2016
Clarksville, TN – The Federal Open Market Committee left short-term interest rates unchanged, as expected, and the policy statement was a near photocopy of the one in September.
The FOMC noted that “the case for an increase in the federal funds rate has continued to strengthen,” but for the time being, officials decided “to wait for some further evidence of continued progress towards our objectives.”
The October Employment Report was largely in line with expectations. Nonfarm payrolls rose by 161,000 (median forecast: +175,000), but the two previous months were revised a net 44,000 higher.
Frazier Allen
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Clarksville Weekly Market Snapshot from Frazier Allen for the week of November 2nd, 2016
Clarksville, TN – Real GDP rose at a 2.9% annual rate in the advance estimate of third quarter growth, a bit on the high side of expectations. However, the economy was not as strong as the headline figure suggests (similarly, growth over the four previous quarters was not as weak as the GDP number implies).
Inventories, which had been slowing over the five previous quarters (subtracting from GDP growth), rose at a faster pace (adding 0.6 percentage point to overall growth). Net exports (a narrower trade deficit) added 0.8 percentage point.
Frazier Allen
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Clarksville Weekly Market Snapshot from Frazier Allen for the week of October 28th, 2016
Clarksville, TN – The recent economic data reports have done little to alter the overall picture (moderate growth, low inflation). The Fed’s Beige Book noted that economic activity has continued to expand, with most Fed districts describing growth as “modest” or “moderate.”
In mid-September, nine of the 12 district banks had requested an increase in the discount rate (the rate the Fed charges banks for short-term borrowing) – one more than in late July – suggesting internal pressures for higher short-term interest rates at the Fed.
Frazier Allen
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Clarksville Weekly Market Snapshot from Frazier Allen for the week of October 19th, 2016
Clarksville, TN – Minutes of the September 20-21 policy meeting showed that Federal Open Market Committee members were divided on whether to raise short-term interest rates, and most of those voting to wait felt that it was “a close call.”
Financial markets have increasingly priced in a mid-December rate hike. Amid a thin economic calendar, investors focused on what’s happening in the rest of the world, but also reacted to the initial earnings reports for 3Q16.
Frazier Allen
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Clarksville Weekly Market Snapshot from Frazier Allen for the week of October 9th, 2016
Clarksville, TN – The economic data were mixed. The ISM surveys both surprised to the upside, suggesting that the August slowdown was temporary. Unit auto sales were down from a year ago, but up relative to August on a seasonally adjusted basis.
Nonfarm payrolls rose a bit less than expected, while the unemployment rate ticked modestly higher – the start of the school year makes the September figures suspect, but the underlying trends suggest further improvement in overall labor market conditions.
Frazier Allen
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Clarksville Weekly Market Snapshot from Frazier Allen for the week of October 2nd, 2016
Clarksville, TN – The economic data were mixed. Consumer confidence rose in September. Durable goods orders were mixed. The estimate of 3Q16 GDP growth was revised higher (to a 1.4% annual rate, held back by a sharp slowing in inventory growth).
Personal income rose modestly in August, as expected, but spending was softer than anticipated, suggesting a possible loss of momentum following a strong spring and early summer (economists’ estimate of GDP growth were revised down for both 3Q16 and 4Q16).
Frazier Allen
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