U.S. second-quarter economic growth revised higher; jobless claims rise
economy grew a bit faster than previously estimated in the second quarter, recording its quickest pace in more than two years, but the momentum probably slowed in the third quarter as Hurricanes Harvey and Irma temporarily curbed activity. Treasuries held losses after the data and the dollar .DXY fell to a session low against a basket of currencies. With GDP accelerating in the second quarter, the economy grew 2.1 percent in the first half of 2017. But the plan gave few details on how the tax cuts would be paid for without increasing the budget deficit and national debt, setting up what is expected to be a bruising battle in the U.S. Consumer spending in the second quarter was the fastest in a year.
US economic growth hits a 2-year high on strong business and consumer spending
US economic growth in the second quarter was stronger than previously thought, according to the Commerce Department's third estimate of gross domestic product released Thursday. GDP, the value of everything produced in America, was revised up to an annualized growth rate of 3.1% from 3%. It was the fastest rate since the first quarter of 2015. Personal-consumption growth was maintained from the second estimate at a 3.3% rate, led by spending on housing, utilities, prescription drugs, and cellphone services. The 3.1% growth rate is ahead of President Donald Trump's stated 3% target for the economy.
US second-quarter GDP growth revised up to 3.1 percent
economy grew a bit faster than previously estimated in the second quarter, recording its quickest pace in more than two years, but the momentum probably slowed in the third quarter as Hurricanes Harvey and Irma temporarily curbed activity. Treasuries held losses after the data and the dollar fell to a session low against a basket of currencies. With GDP accelerating in the second quarter, the economy grew 2.1 percent in the first half of 2017. But the plan gave few details on how the tax cuts would be paid for without increasing the budget deficit and national debt, setting up what is expected to be a bruising battle in the U.S. Consumer spending in the second quarter was the fastest in a year.
U.S. Second-Quarter Growth Revised Upward to 3.1% Annual Pace
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. The third and final reading on second-quarter growth precedes what will likely be significant storm-related distortions in the third quarter, with hurricanes Harvey and Irma seen depressing growth before rebuilding efforts help boost GDP in the months ahead. The latest release on GDP in the April-June period shows American consumers, which account for almost 70 percent of the economy, remain the primary growth engine, backed by a strong job market, contained inflation and low borrowing costs. The rate of expansion was the fastest since the first quarter of 2015, and while it’s above the Trump administration’s 3 percent goal, most economists expect the pace to slow.
Gold Steady After U.S. 2Q GDP Growth Revised Up To 3.1%
The government’s previous estimate of third-quarter GDP growth was 3.0%. Two minutes ahead of the report, the metal was at $1,287.90. The price index for gross domestic purchases increased one-tenth of a percentage point from the prior second-quarter estimate to 0.9%. This index had increased of 2.6% in the first quarter, the government said. Excluding food and energy prices, the PCE price index was up 0.9%, compared with an increase of 1.8% in the prior quarter.
U.S. Q2 GDP Growth Revised Up More Than Expected
economy in the second quarter (Q2) was revised up more than expected on Thursday, boosting optimism over the health the of the U.S. With the data for the July to September period expected to feel the impact of the hurricane season, the latest forecast from the New York Fed predicts a 1.6% expansion, while the Atlanta Fed projects growth of 2.1%. After the report, which was released simultaneously with weekly jobless claims, EUR/USD was trading at 1.1778 from around 1.1780 ahead of the publication; GBP/USD was at 1.3428 from 1.3437 earlier; while USD/JPY was at 112.57 from 112.55 earlier. The Dow futures fell 41 points, or 0.18%, the S&P 500 futures lost 4 points, or 0.17%, while the Nasdaq 100 futures traded down 19 points, or 0.31%. Elsewhere, in the commodities market, gold futures traded at $1,287.24 a troy ounce, compared to $1,288.26 ahead of the data, while crude oil traded at $52.56 a barrel from $52.45 earlier.
US second-quarter GDP growth revised up to 3.1 percent
economy grew a bit faster than previously estimated in the second quarter, recording its quickest pace in more than two years, but the momentum probably slowed in the third quarter as Hurricanes Harvey and Irma temporarily curbed activity. Treasuries held losses after the data and the dollar fell to a session low against a basket of currencies. With GDP accelerating in the second quarter, the economy grew 2.1 percent in the first half of 2017. But the plan gave few details on how the tax cuts would be paid for without increasing the budget deficit and national debt, setting up what is expected to be a bruising battle in the U.S. Consumer spending in the second quarter was the fastest in a year.
World Opinion of Trump and U.S. - FactCheck.org
The Pew Global Attitudes Project found that citizens in 35 out of 37 countries have less confidence in Trump than they did in former President Obama. For example, 86 percent of Germans said they had “a lot of confidence” or “some confidence” in Obama, but only 11 percent said the same of Trump. However, the Pew Global Attitudes Project since 2002 has been tracking world confidence in U.S. In June, the Pew Research Center released the results of its surveys in 37 countries and found that among those nations “a median of just 22% has confidence in Trump to do the right thing when it comes to international affairs.” By contrast, “a median of 64% expressed confidence” in Obama. The decline in confidence in the U.S.
Pacific Standard Time LA/LA: 1,100 artists from 45 countries
A man drags her by the arm, doubling himself over to escape the helicopter searchlights scissoring the landscape. Los Angeles is the biggest Latin American city outside the region and it is permeated by the language, culture, food and music of the south. And the exhibition at the Los Angeles Municipal Art Gallery, “Condemned to be Modern”, asks uncomfortable questions about the home-grown taste for brutalist architecture in Latin America and what happened when the promised modern future turned into dictatorship and economic stagnation. A highly academic show, as befits the Hammer’s position as part of University of California, Los Angeles, “Radical Women” is no walk in the park. A small show at the Craft & Folk Art Museum shows the Mexican-American border not as a wall but as a place of imagination and possibility, and the artists who inhabit it as makers of “cross-border art”: artists like Raquel Bessudo, who makes polyester jewellery based on the route followed by the deadly immigrant train, La Bestia, or Ana Serrano with her village “Cartonlandia” (pictured) and Ronald Rael, who playfully reimagines the border wall as a cycling track, a xylophone or a place to hang a seesaw.
The Country of Bhutan measurses Gross National Happiness, instead of Gross Domestic Product.
okay, i started playing, and it is kind of addictive. so is heroin.
GDP = Gross Domestic Product
