GDP

A country’s GDP gives a better sense than GNP of its future economic prospects.

Growth was ahead of forecasts despite a setback in December due to Omicron restrictions.

A cabinet reshuffle brings a lot of familiar faces to the fore. But without a clear plan, the prime minister is just passing around a poison chalice.

One researcher called the findings “a pretty stark indictment of the United States.”

The economy is officially recovered from the coronavirus pandemic. For the first time since covid took hold, economic output eclipsed its pre-pandemic high, after adjusting for inflation.

As Americans resume pre-Covid activity and the Biden administration seeks even more stimulus, the president's policies may be his own biggest economic threat.

Not only did big states with more stringent COVID measures end 2020 with fewer infections per capita, they also tended to post better economic growth numbers last year than states with fewer restrictions.

The economy's recovery has become complicated by a new wave of the virus spreading at a record rate, and the failure of Congress to provide a stimulus package to help the economy heal. Stronger consumer activity and business and residential investment helped drive the surge, after the record 31.4% contraction in the second quarter. In level terms, GDP is now 3.5% below its fourth quarter 2019 peak. "I've got GDP getting back to fourth quarter 2019 levels in the first quarter of 2021, but it very well could be the second quarter. Democrats had pushed for a more than $2 trillion package, which Senate Republicans opposed.

DETROIT – We’re separating fact from fiction in one of Michigan’s most contentious and most expensive races. “He believes in no exception,” Peters said of James. As for hiding his plan, James is likely referring to amendments Peters made to congressional financial disclosures after initially not disclosing the state plan. We’re calling this Be Careful because James isn’t exactly correct on how Peters' plan works. James is referring to a statement Peters made in 2018 at a town hall where he said Medicare-For-All is likely down the road.

In President Trump’s town hall Thursday night, the coronavirus took center stage as it has during this campaign. First we’re taking a look at a claim the President has made before that’s rating has changed since the first time he said it. Next is a claim the President has been making about the lives he’s saved during the pandemic. We were expected to lose 2,200,000 people and maybe more than that,” the President told one of women who asked a question during the town hall. More Town Hall fact checks from the Trust Index:

Former Vice President Joe Biden’s town hall Thursday night was largely policy-oriented, especially on matters of jobs and the economy, which is why it’s where we’re starting Biden’s plan for economic recovery. “Wall Street said I will create 18.6 million new jobs, good paying jobs. The GDP will grow by $1 trillion more than under Trump and seven million more jobs than under Trump,” Biden said. “Electric vehicles will save billions of gallons of oil and will create 1 million, not me, Wall Street (says), automobile jobs,” Biden told one audience member. The Biden plan doesn’t offer any specifics on how that would work and skeptics have said the switch over to electric vehicles without federal help could actually cost the industry jobs.

"They've been hit hard by the pandemic, but the survey shows there are some bright spots about what the future holds," said Eileen Diskin, chief marketing officer at Comcast Business. Comcast Business is a subsidiary of Comcast, the parent company of NBC Universal and CNBC. Small businesses have begun to reopen, and while suffering big hits during the lockdown, are poised to rebound, the survey showed. … We learned that small businesses have had a lot of inertia when it comes to technology. The Comcast Business survey results contrast somewhat with a similar survey from Verizon Business released Monday.