Economists pointed to President Donald Trump’s global trade disputes as a factor motivating decreased economic growth in the National Association for Business Economics survey released on Monday.
Thirty-five percent of respondents said Trump’s protectionist measures had hurt their companies, while seven percent said the policies had improved business. Thirty-two percent of respondents said that tariffs had not impacted their businesses. Two-thirds of goods-producers said the tariffs had negatively affected business.
The respondents reported falling sales and increased costs for materials, a NABE press release said. The survey depicted weakening U.S. economic growth over the next 12 months. Despite the concerning signs, the economists surveyed said they still expected economic growth in the next year.
“The U.S. economy appears to be slowing, and respondents expect still slower growth over the next 12 months,” NABE President Constance Hunter said in the press release. “Many of the survey indicators in this report are at their lowest levels in several years. It is important to note, however, that all respondents still expect the current economic expansion to continue over the next 12 months.”
Of those polled, one-fifth of economists said that they had hired more workers in the last three months, a figure the Associated Press said represented at seven-year low. The survey also found that wage and salary growth “was much less widespread at respondents’ firms in the third quarter of 2019 than in the previous four years.”
Though Trump has regularly touted his economic record, the NABE results put expansion expectations significantly below what the president has sought. The Trump administration has yet to achieve a full year of its 3 percent growth target, and respondents to the NABE survey did not expect future growth to approach such levels. Rather, over two-thirds of economists surveyed said that they expected real GDP growth between 1.1 and 2 percent over the next year. One-fifth predicted economic growth beyond 2 percent–a sizable decrease from the nearly half who predicted such growth in the July survey.
Trump announced earlier this month that the U.S. and China would be agreeing to a “phase one” trade deal, which would involve Beijing buying tens of millions of dollars of agricultural products from the U.S.
However, as Trump seeks to shore up the trade war with China, he has escalated tensions with other countries. After the World Trade Organization said that the U.S. could levy $7.5 billion in tariffs against the European Union for illegal subsidies the bloc gave to Airbus, Washington imposed tariffs on a range of European goods.
Fans Celebrate #HOV50 and Share Favorite Jay Z Lyrics on Music Mogul’s 50th Birthday
In honor of Jay-Z’s 50th birthday, fans all across the globe flooded social media with warm messages of love and support.The hashtag #HOV50 began to trend early in the morning on Twitter on Wednesday as a result of the many well wishes from the longtime rappers’ fans.Fans opened up on some of their most memorable…
In honor of Jay-Z’s 50th birthday, fans all across the globe flooded social media with warm messages of love and support.
The hashtag #HOV50 began to trend early in the morning on Twitter on Wednesday as a result of the many well wishes from the longtime rappers’ fans.
Fans opened up on some of their most memorable moments involving the music mogul—whose birth name is Shawn Carter but is commonly referred to by fans as Hov, short for Hova. They also posted messages of the many ways Jay-Z has inspired them, including with hundreds of photos, gifs and video clips of him in action.
Many people used the Brooklyn native’s birthday to reflect on his work over the last three decades, listing their favorite albums, songs and guest features from the rapper.
Album rankings weren’t the only way fans recognized Jay-Z on his 50th birthday. Several people took to Twitter to commemorate the award-winning lyricist by sharing their favorite verses ever rapped by him. Classic Jay-Z lines from chart-toppers like “Hard Knock Life,” “Song Cry,” “Say Hello,” and his guest feature on Kanye West’s “Diamonds From Sierra Leone” were spotted on Twitter timelines.
Meanwhile, some fans said they’d celebrate Jay-Z’s birthday by listening to his lengthy discography all day long.
Jay-Z made listening to his catalog a whole lot easier for some of his fans when he re-released his entire catalog of music again on Spotify.
The Roc Nation founder removed much of his work from the platform in April 2017 to the dismay of many loyal listeners just ahead of the release of his latest album, 4:44.
At the time the move seemed like a ploy to get fans to subscribe to TIDAL, the music streaming service he owns and operates. Now, Spotify users will get to listen to all of Jay-Z’s albums and songs ranging from his 1996 debut Reasonable Doubt and so-called career retirement project The Black Album in 2003, his 2011 Watch the Throne collaboration album with West and several other staples.
Since he first emerged on the rap scene in the 1990s, fans have admired and praised Jay-Z for his many punchlines, thought-provoking lyrics and masterful storytelling. A natural wordsmith, he has kept listeners fascinated and moved with his ability to flow over a beat with grace and pizzaz—not to mention the fact that he creates hit after hit without writing his lyrics down.
It’s a long-known fact Jay-Z doesn’t write his albums but rather hits the studio with a few words already in mind before he jumps on a track. That habit sparked a number of younger singers and rappers following in his footsteps by not pre-writing lyrics to their songs.
“It just felt better [the way I do it now],” he said during a 2007 interview with MTV News. “In my mind, I said, ‘OK, I’m gonna sit down and I’m [going to] just write it and really do this thing a certain way.’ But your natural process is your process. It’s difficult to go back to what you was doing when you was 15, 16 years old. My process is different now. It sounds great on paper, like ‘I’m [going to] sit down, I’m going to write the entire album like I did before.’ But once you get back in the studio and you’ve been doing this process for years and years now, so it just felt natural to do it the way I’ve been doing it: no paper, no pen, just listen to the music.”
See more of how fans are celebrating Jay-Z’s birthday below.