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F1 still seeing "solid growth" in American TV viewership in 2023 | RaceFans Round-up
In the round-up: Formula 1 insists it is continuing to see strong viewing figures in its key US market despite the lack of competition on-track in 2023. In brief F1 still enjoying “solid growth” in USA F1 owners Liberty Media say the series is continuing to attract strong viewing figures in the USA, notwithstanding a one-sided contest in which only one team, Red Bull, have won every race so far. Liberty Media president and CEO Greg Maffei told investors this month the series has “seen particularly solid growth in the US” this year. “Viewership on ESPN is up season to date versus the 2022 average viewership with strong F1 TV performance as well,” said Maffei. “The 2023 season has already seen three of the four largest live audiences in F1 history on US TV, including Miami, Monaco and the Canadian GPs. All but two of our races have averaged more than one million viewers. Huge numbers for the US market.” Beyond the US market, interest in F1 is continuing to rise globally, he added. “We continue to have sell-outs at almost all races. The sprint weekends are driving year-over-year growth in viewership. For example, the Spa total audience across race, sprint shoot-out and qualifying was up versus the Belgian GP last year.” Rahal relished fight without “DRS crap” Graham Rahal spent the final laps of yesterday’s IndyCar race chasing down eventual winner Scott Dixon, the pair separated by less than half a second at the chequered flag. Dixon had saved more of his push-to-pass speed boost for the final laps, which helped him keep Rahal out of range. Despite his defeat, Rahal said afterwards IndyCar’s overtaking aid creates better racing than F1’s Drag Reduction System. “Because of his race pattern being so much more fuel saving, he had a lot more overtake at one stage,” said Rahal. “We were catching him at the end. He was starting to use overtake. At one point he had 60 seconds more than me. I think at the end we ended up equal. He was using it to stay ahead of me. “That’s what I kind of love about our version of overtake frankly. It’s a mano-a-mano battle. You use it offensively, defensively. None of this DRS crap that makes it easy.” Advert | Become a RaceFans supporter and go ad-free There’s still time to join in this weekend’s Caption Competition here: Happy birthday! Happy birthday to Chris Monk, Ciaran, Jonathan, Camo8723, David Knutson, Sevrige and Omarr-Pepper! On this day in motorsport 45 years ago today Ronnie Peterson scored his final F1 win in a rain-hit Austrian Grand Prix which was red-flagged after seven laps, then restarted. via RaceFans - Independent Motorsport Coverage https://racefans.net/
WASHINGTON | IMF: Tax cuts boosting US now but will hurt growth later
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WASHINGTON | IMF: Tax cuts boosting US now but will hurt growth later
WASHINGTON (AP) — The International Monetary Fund believes the U.S. economy will post solid growth this year and next, helped by a sizable boost from tax cuts. But then it says growth will slide as huge budget deficits drag growth far below the Trump administration’s goals.
In its annual assessment of the U.S. economy, the IMF says growth will hit 2.9 percent this year and 2.7 percent next year. Both are significant increases from last year’s 2.3 percent expansion.
However, after an initial boost from the $1.5 trillion tax cut package, the IMF forecasts growth will slow steadily in future years, dropping to 1.4 percent in 2023.
This forecast is far below the Trump administration’s predictions of 3 percent or better growth in coming years.
The economic growth, as measured by the gross domestic product, that the IMF is forecasting for this year would be the fastest pace since a similar gain in 2015. That gain stood out in what has been the weakest economic recovery of the postwar period, with annual GDP growth averaging just slightly above 2 percent.
During the 2016 presidential campaign, Donald Trump pledged to double the growth rates with a program of tax cuts, deregulation and tougher enforcement of U.S. trade laws. Since taking office, Trump has often pointed to recent GDP gains as proof his economic program is beginning to work.
The IMF review lays out a less optimistic path, forecasting that GDP will grow 1.9 percent in 2020, then gradually slow to 1.4 percent in 2023.
“Despite good near-term prospects, a number of vulnerabilities are being built up,” the IMF said.
The report said that with the tax cuts and expected increases in defense and domestic programs, the federal budget deficit as a percentage of the total economy will exceed 4.5 percent of GDP by next year — nearly double what it was just three years ago.
This big boost in the U.S. government deficit is “quite rare,” the IMF said. It has not been seen since in the United States since President Lyndon Johnson in the late 1960s boosted spending on the Vietnam War at the same time it was adopting the Johnson’s Great Society programs.
The IMF said this stimulus will provide a near-term boost, but it will also increase future risks including exacerbating the “already unsustainable” rise in government debt. The IMF projected the level of the federal government’s debt will exceed 90 percent of GDP by 2024.
This report said the current policies will elevate future risks by increasing the government’s debt burden. The IMF suggests that to trim future deficits, the US may need to take politically painful steps such as trimming Social Security benefits and imposing higher taxes on consumers.
By MARTIN CRUTSINGER ,By Associated Press
Singapore port's annual vessel arrival tonnage reaches record 2.37b gross tonnes in 2014
Singapore port’s annual vessel arrival tonnage reaches record 2.37b gross tonnes in 2014
SINGAPORE: The Port of Singapore continued solid growth in 2014, according to Transport Minister Lui Tuck Yew, who announced the advance estimates of the Republic’s 2014 port performance.
Annual vessel arrival tonnage reached a high of 2.37 billion gross tonnes (GT) in 2014 – a 1.9 per cent increase over the 2.33 billion GT in 2013. It is also the highest in the 2010-2014 period, according to a…
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