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Posts tagged ‘Percentage point’

CNN Poll: More Americans Pessimistic About State of Nation.

Image: CNN Poll: More Americans Pessimistic About State of Nation

By Sandy Fitzgerald

Americans are becoming even more pessimistic about the state of the nation, according to a new CNN/ORC International poll released Friday, with more than half saying conditions are going badly.

The survey, conducted on Nov. 18-20 of 843 adults, showed that 41 percent believe conditions are going well, marking the lowest that number has been in a CNN poll since February 2012.Special: Camo Hat — Like Our Troops Wear. On Sale $3.99. You Save $21! 

Meanwhile, 59 percent say things are going badly, a number up nine points since the last poll in April. The opinions were along a partisan divide, as well as a difference of opinion between younger and older people.

“There’s a slight generational divide, with 46 percent of those under age 50 saying things are going well. That number drops to 36 percent for those 50 and older,” said CNN Polling Director Keating Holland.
Americans are also pessimistic about the economy, the poll showed. Thirty-nine percent believe the economy is still declining, and just 24 percent believed a recovery is occurring. Meanwhile, 36 percent said they do not believe there is a recovery going on, but still think conditions are becoming stable.
The numbers were similar to those from a CNN/ORC International survey in October, when 59 percent predicted poor economic conditions a year from now, while 40 percent said the economy would be in good shape next year, marking the lowest level of optimism from the public in two years.
Partisan and geographic divides also came into play when it came to the economy. Forty-five percent of people who are 50 or older say the economy remains in a downturn, but 34 percent of people younger than 50 said the economy is declining.
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US Economy Grew 3.1%; Jobless Claims Rise.

Michael Nagle | Bloomberg | Getty Images

The U.S. economy grew faster than previously estimated in the third quarter as exports and government spending provided a lift, but that boost is likely to be lost amid slowing global demand and a move towards tighter fiscal policy.

A separate report showed weekly jobless claims rose slightly more than expected. Weekly jobless claims rose to 361,000 in the latest week. Claims has been expected to rise to 357,000, from 343,000 the prior week.

Gross domestic product expanded at a 3.1 percent annual rate, the Commerce Department said in its third estimate on Thursday, up from the 2.7 percent pace reported last month.

It was the fastest growth since late 2011 and also reflected a slightly better pace of consumer spending than previously estimated.

Economists polled by Reuters had expected GDP growth would be raised to a 2.8 percent pace. Exports grew at a 1.9 percent rate, rather than 1.1 percent.

With imports falling for the first time since the second quarter of 2009, that narrowed the trade deficit. Trade contributed 0.38 percentage point to GDP growth. The drop in imports is a sign of weak domestic demand.

Government spending was revised to a 3.9 percent growth rate from 3.5 percent, boosted by a rebound in state and local government outlays. It added three quarters of a percentage point to GDP growth in the third quarter.

The boost from exports is likely to be short-lived against the backdrop of a cooling global economy. Government will likely be a drag in the coming quarters amid belt tightening to trim the budget deficits.

About $600 billion in automatic government spending cuts and higher taxes could be pulled out of the economy in early 2013, and tip it back into recession unless an agreement is reached on less punitive plan.

While growth in consumer spending, which accounts for about 70 percent of U.S. economic activity, was raised by 0.2 percentage point to a 1.6 percent rate, that mostly reflected higher health care costs.

Business inventories were trimmed to $60.3 billion from $61.3 billion. Restocking by businesses contributed 0.73 percentage point to GDP growth.

Given the sluggish spending pace, some of the inventory accumulation might have been unplanned, suggesting businesses will need to liquidate stocks this quarter because of weak demand.

Excluding inventories, GDP rose at a revised 2.4 percent rate. Final sales of goods and services produced in the U.S. had been previously estimated to have increased at a 1.9 percent pace.



Romney extends lead over Obama in presidential race: Reuters/Ipsos poll.

WASHINGTON (Reuters) – Republican challenger Mitt Romney has extended his lead over President Barack Obama to 3 percentage points, according to a Reuters/Ipsos tracking poll released on Thursday, ahead of a high-stakes debate between the two candidates’ running mates.

Romney now leads the Democrat by 47 percent to 44 percent among likely voters in the online poll, with less than a month before the November 6 election. The Reuters/Ipsos tracking poll released on Wednesday had shown Romney with a one-point lead over Obama, his first lead in the survey in more than a month.

Romney has been enjoying one of his best runs of the campaign after handily winning the first presidential debate last week, partially due to Obama’s passive performance in that contest.

(Reporting By Patricia Zengerle; Editing by Vicki Allen)



Philippine economy grows 5.9% in second quarter.


The Philippines said Thursday the economy grew a better-than-forecast 5.9 percent in the three months to June, largely due to a strong services sector.

And the government said the second-quarter figures — which also saw growth in the first half at 6.1 percent after a strong 6.3 percent expansion in January-March — would continue for the rest of 2012.

“The resilient services sector remained the main driver of growth,” said Lina Castro, secretary general of the National Statistics Coordination Board.

Independent analysts had widely predicted 5.4 to 5.8 percent growth in the second quarter.

Castro said the services sector had accounted for 4.3 percentage points of the growth figure for the three-month period, while industry accounted for 1.5 percentage points and agriculture 0.1 points.

The figures led Socio-economic Planning Secretary Arsenio Balisacan to predict “we will be close to the upper end of the (5.0-6.0 percent) range”, for the whole of 2012.

The momentum of growth “will not dissipate in the succeeding quarters”, he told reporters.

He cited “accelerated government spending on infrastructure” for helping growth, as well as low inflation, improved exports, rising tourist arrivals and the continued remittances of about 10 million Filipino overseas workers.

A rash of storms and heavy rains that caused massive flooding in Manila and surrounding areas in recent months were unlikely to have a huge effect on the growth rate in 2012, Balisacan added.

“Their impact on agriculture was quite modest and their likely impact (on the whole economy) was also quite modest,” he said.

But he warned that the economy faced challenges for the rest of the year stemming from the global economic slowdown and the expected return of the “El Nino” weather phenomenon.



Optimism about economy down, poll shows.

The number of people who say the economy is starting to recover has dropped 5 points since April, from 24 percent to 19 percent, while the number who say that the economy remains in a downturn is up 6 points to 39 percent, a CNN/ORC International poll released Friday shows.

“That all seems bad news for President Barack Obama’s re-election chances, but only if Mitt Romney can capitalize on it,” says CNN Polling Director Keating Holland.

The poll results come on the same day that The Washington Post reports that recent data indicate the economy might be gaining traction. The Post article cites encouraging signs in the housing market, an uptick in hiring, a drop in the number of people seeking unemployment insurance, and an improvement in U.S. exports.

The CNN poll was conducted by ORC International Tuesday and Wednesday, with 1,010 adults nationwide questioned by telephone. The survey’s overall sampling error is plus or minus 3 percentage points.


By Phil Pruitt | The Ticket

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