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Suddenly the operators took their profit879 million euros for the 2007 fiscal yearIt would indicate that this is a shared project What weighs heavy in the calculation it is foodFor the class client Affairs its share rose from 34 in 1996 to 9 in 2007An ethical dimensionThe second reason is more directlyBut no date is advanced for their publicationOfficials are shattered by the reform of the StateFrom there to claim victory there is a not yet difficult to cross1 growth of GDP in the United States next yearThe US recovery is on track. The Department of Commerce has surprised yesterday most economists by announcing a net rebound growth ( 3.5), higher than the consensus of analysts (3.2). This burst just signal the end of the worst recession since the second world war. In addition to the reduction of the removal of American companies which had heavily weighed on growth in the first half, it is mainly the rebound more net than anticipated consumption ( 3.4) and residential investment ( 23.4) who earned growth ending four consecutive quarters of decline. Even if the level of unemployment remains high with a rate of 9.8 of the active population, it is the first concrete positive signal since the beginning of the recession in December 2007. The Secretary to the Treasury, Timothy Geithner, found that despite the recovery, the recession began in December 2007 was, "well this and biting" for millions of Americans. For its part, the American President, Barack Obama, saw the sign that "this recession is being dissipated", while preventing that there remained much to be done for the economy to recover fully.
No immediate effect on employment
"This result contrasts with the decline of 6.4 of the growth in the first quarter." "In terms of percentage points, it is the strongest rebound since 1980 in two quarters," welcomed yesterday the President of "council of economic advisers", Christina Romer. She sees the positive impact of stimulus budget of $ 787 billion, launched in February, holding even the contribution of the American Recovery and Reinvestment Act of 2009 at "3 or 4 points of growth of real growth in the third quarter". In the light of the employment situation, the Economic Adviser to the White House doesn't hide, however, that "the road to full recovery be still long" and that it will take time for the rebound of GDP impact on employment.
According to data published yesterday by the Department of trade, consumption represents 70 of the US economy, has represented the main contribution the rebound by adding to it only 2.4 growth. But the major surprise comes from the rebound of residential investment ( 23.4-23,3 in the second quarter), is the strongest contribution to growth since 2005. Despite a resumption of investment in equipment and software ( 1.1-4.9 in the second quarter), total investment by businesses fell by 2.5 due to a fall of 9 of the expenditure in non-residential. On the other hand, the slowdown of the policy of removal of enterprises (-130,8 billion against - 160.2 billion in the second quarter) to win a point of growth. Off inventories, GDP increased by 2.5 0.7 in the second quarter. Most economists see a positive signal in this downturn of the reduction of stocks that had weighed heavily on growth (-4 points) in the first half. In addition, the weakness of the dollar doped exports by 14.7, even if the increase in imports ( 16.4) still showed a negative balance.
Uncertainties on the future
"Better than expected GDP confirms that the great recession is over." The question is: is it a statistical recovery or will there be a sustainable recovery "told Reuters Kevin Flanagan of Morgan Stanley. After the loss of 7.2 million jobs in the United States since the beginning of the recession (of which 3.4 million since January), the spectre of a "growth without employment" continues to haunt the economists. Even after the end of the recession of eight months in 2001, it took until 2006 that the unemployment rate returns below the 5.
