US economic growth may be negative for this quarter

News Flash

PERSISTENT SYSTEMS: OPERATING WITH 200 PLUS CUSTOMERS AND 4500 EMPLOYEES CURRENTLY
PERSISTENT SYSTEMS: 25% BIZ COMING IN FROM THE TELECOM SPACE, 15% FROM LIFE SCIENCES
PERSISTENT SYSTEMS: HAVE RECENTLY SET UP HYDERABAD SEZ, MAJORITY GROWTH TO COME FROM THERE
MARKET VIEWS: ICICI SEC: REMAIN BULLISH ON I.T. SECTOR; TECH STOCKS TO OUTPERFORM MARKETS
MARKET VIEWS: ICICI SEC: SEE MKTS IN A CONSOLIDATION PHASE FOR NEXT 3-4 TRADING SESSIONS
CRUDE OIL UPDATE: OPEC MINISTERS POISED TO KEEP OUTPUT STEADY WITH OIL OVER $80/BBL
BROKERAGE VIEWS: CREDIT SUISSE: 'OUTPERFORM' ON RIL; COURT DECISION TO DEFINE EPS DOWNSIDE
BNP PARIBAS: FED KEEPING FUNDS TARGET RATE UNCHANGED 'A NON EVENT FOR MARKETS'
FOMC MEET: FEB KEEPS DISCOUNT RATE UNCHANGED AT 0.75%
F&O CUES: STOCK FUTURES SHED 1.03 CRORE SHARES IN OPEN INTEREST
F&O CUES: NIFTY 5200 PUT MOST ACTIVE; 5200 PUT ADDS 19.41 LAKH SHARES IN OPEN INT
F&O CUES: 5100 CALL SHEDS 9.69 LAKH SHARES IN OI
F&O CUES: 5000 CALL SHEDS 5.96 LAKH SHARES IN OPEN INTEREST
F&O CUES: UNWINDING IN NIFTY 5000 AND 5100 CALL OPTIONS
F&O CUES: NIFTY OPEN INTEREST PUT CALL RATIO AT 1.56
F&O CUES: NIFTY FUTURES SHED 8.4 LAKH SHARES IN OPEN INTEREST
SUGAR UPDATE: SUGAR FUTS DROP TO A 7 MTH LOW IN U.S. AS INVESTORS UNWIND LONG POSITIONS
ASIAN MARKETS: COMMODITY STOCKS UP AS CRUDE AND METAL PRICES EASE
ASIAN MARKETS: ASIAN STOCKS BOOSTED BY FED'S COMMENTS ON RATES
COPPER UPDATE: COPPER CLIMBS THE MOST IN TWO WEEKS AS DOLLAR FALLS & INVENTORY DECLINES
GOLD UPDATE: GOLD FUTURES RISE THE MOST IN TWO WEEKS AS DOLLAR DROPS
CRUDE OIL UPDATE: OPEC MINISTERS POISED TO KEEP THE OUTPUT STEADY WITH OIL OVER $80/BBL
CRUDE OIL UPDATE: OIL GAINS THE MOST IN FOUR WEEKS AS DOLLAR FALLS AGAINST EURO
U.S. ECO DATA: FEB HOUSING STARTS FALL 5.9% VS A 6.6% REBOUND IN JAN
U.S. MARKETS: DOW JONES RISES FOR THE 6TH STRAIGHT SESSION; S&P 500 HITS A 17-MONTH HIGH
F&O CUES: NIFTY FUTURES END AT A PREMIUM OF 6.55 PTS VS A PREMIUM OF 3 PTS ON MONDAY
FOMC MEET: FEB KEPT ITS DISCOUNT RATE UNCHANGED AT 0.75%
FOMC MEET: FED TO KEEP RATES NEAR ZERO FOR AN EXTENDED PERIOD
FOMC MEET: FED VOTED TO KEEP FED FUNDS TARGET RATE UNCHANGED
U.S. MARKETS: FED PLEDGES TO KEEP RATE LOW FOR EXTENDED PERIOD

Updated: 08/03/2008 | 11:30 AM IST

Top Stories

Associated Press

Saturday, March 08, 2008 (New York)

Blog

Comments:

Read (0)

Post

Rate the story

President George W Bush's top economic adviser is saying that is is possible that US growth will be negative for the current quarter.

Edward Lazear, Chairman of the White House Council of Economic Advisers, told reporters at the White House that the president's team has "definitely downgraded our forecast for this quarter."

His assessment tracks with most economic analysts but is the most pessimistic assessment heard out of the White House. Lazear said that the White House predicts that jobs numbers will pick up later this year. He would not discuss whether the White House is predicting that the economy will actually fall into a recession. Some economists think it already has.