White House cuts growth forecast
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The U.S. economy should experience slower growth than originally anticipated for the remainder of the year and in 2007, the White House said Tuesday.
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WASHINGTON -- The nation's budget deficit will drop to $205 billion in the fiscal year that ends in September, less than half of what it was at its peak in 2004, according to new White House estimates.
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US emergency cut in response to weakening economic outlook and recession fears
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In its annual report to Congress, the Bush administration acknowledged that deepening problems in the housing and credit markets will lead to slower growth than last year.
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The Bush administration will seek to slash government spending next year, U.S. Treasury Secretary John Snow said on Sunday, but he was less specific than the president in predicting how quickly the deficit would fall.
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WASHINGTON - The Bush administration released a new economic forecast for 2005 on Friday in which it boosted growth forecasts slightly from a year ago but cut back sharply on its estimates of new jobs.
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U.S. President George W. Bush's fiscal 2009 budget proposal released on Monday takes into account that the U.S. economy is facing a slowdown, the White House said.
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Top forecasters cut their outlooks for U.S. growth this year and next but said inflation seems to be leveling off and consumer spending should strengthen in the months ahead, a survey out on Friday showed.
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White House plans to share the pain of budget cuts
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The White House played down talk that the United States might be headed for a recession and said a report on fourth-quarter gross domestic product released earlier on Wednesday did not change its outlook.
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WASHINGTON -- The White House on Wednesday lowered its forecast for economic growth this year even as it slightly upgraded its outlook for unemployment.
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The White House is telling federal agencies to expect lean budgets next year, with congressional aides and lobbyists saying President Bush appears ready to propose freezing or even slightly cutting overall domestic spending.
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The White House on Friday said the U.S. economy was showing a "mixed" picture and was expected to be stronger later in the year after some of the effects of the housing market slump and high oil prices worked through it.
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WASHINGTON -- The Federal Reserve on Wednesday lowered its projection for economic growth this year, citing damage from the double blows of a housing slump and credit crunch. It said it also expects higher unemployment and inflation.
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A leading forecaster of advertising spending has again lowered his estimate for growth in the U.S. this year.
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The Asian Development Bank on Wednesday cut its 2004 economic growth forecast for Thailand to 6.4 percent from 7.2 percent, citing the outbreak of avian influenza and higher oil prices.
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Washington, Dec. 18. (PTI):The growth rate of United States will slow down a little bit next year though the general economic conditions &quot;look very sound,&quot; Bush&#39;s economic advisers have warned.