Financial crises and fiscal policy impacts on North America

Ray Barrell, Tatiana Fic and Ali Orazgani

National Institute Economic Review, 2008, vol. 205, 14-17

Abstract: The US economy appears to have avoided a technical recession this year. In the June issue of the quarterly accounts, which are considered as the first full estimate for the first quarter, first quarter GDP rose by 1 per cent on an annual basis, compared with 0.6 per cent growth recorded the quarter before. The relatively good growth was driven by net trade, with exports expanding at an annual rate of 5.3. The first-quarter contribution of net exports to GDP growth accounted for 0.8 percentage points of GDP growth expressed in annual terms.

Date: 2008
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