GDP: US Economy Grows at Solid 2.6% in Second Quarter
29 July, 2017, 00:52 | Author: Gladys Mathis
US GDP grew by an annualised rate of 2.6 per cent in the second quarter, according to an early estimate by the US Bureau of Economic Analysis (BEA), broadly in line with expectations.
This is the first economic report that captures the first full quarter of GDP growth since Trump became president.
The growth rate for the first quarter was cut to 1.2%, compared with the previous estimate of 1.4%.
Both consumers and businesses helped propel growth in the second quarter. Despite the improvement, the current recovery is still the weakest in more than six decades.
In recent years, the US economy has often started off slowly, improved in the middle of the year, only to sag again toward the end. The value of newly produced but unsold goods slipped by $2.6 billion in a bit of a surprise.
Business spending on equipment rose at a pace of 8.2 percent in the second quarter, the fastest since the third quarter of 2015. "It grew at 5% in the third quarter of 2014 before sputtering out".
"Accordingly, we still expect GDP growth of 2.5%-3.0% over the rest of this year which, along with the declining unemployment rate, should leave the Fed on track to raise interest rates once more before year-end", he added.
Gov. Cuomo announces MTA adopt-a-station partnership
Cuomo said that the state contributes $8.3 billion to the MTA capital plan, while the city commits $2.5 billion. Andrew Cuomo than Mayor Bill de Blasio for the meltdown of the subways, a new poll released on Thursday shows.
Microsoft to reward up to $250000 bounty to bug finders
Interested users can find out more information on the official page and read over the rules of the Windows Bounty Program . The Mitigation Bypass and Bounty program's highest reward of $200,000, but there you can exclusively target Windows 10.
MTV makes its Video Music Awards completely gender-neutral
Also picking up nominations at the VMAs were Ariana Grande and Nicki Minaj for " Best Choreography " for their hit Side To Side . However, she was snubbed in the Video Of The Year and Artist Of The Year categories, while The Weeknd was shortlisted for both.
Of note: GDP prints starting in Q3 2016 and through Q1 2017 were all revised lower.
The market's focus was now on second quarter US gross domestic product data due at 1230 GMT.
"The positive economic data keeps rolling in", said John Boyd Jr., principal of The Boyd Co. of Princeton, New Jersey. The U.S. has added 16.6 million new jobs since 2010 to drive the unemployment rate down to a almost 16-year low of 4.4%.
John Engle Jr., president of Illinois-based Almington Capital, also expressed optimism.
Why? Because growth has not been robust.
Growth in exports and federal government spending were partially offset by weaker residential investments and state and local government spending. It's an overall solid result, but it's not hinting at significant change either.
The IMF believed the Trump administration is unlikely to accelerate annual US economic growth to sustained 3 percent from the newly revised 1.5 percent in 2016, "even with an ideal constellation of pro-growth policies".
As we've said, the game has shifted back to the 1960s after the 2015 "The Old Blood" game which was the prequel to The New Order . Called The Freedom Chronicles , players will have access to three separate missions with three brand new characters.
But as the runners-up in the World Cup it's important that we need to again start grooming players for the next edition. England completed a stunning fightback at Lord's to win the Women's World Cup with a nine-run victory over India .
We even got a look at voiceover guy, Iain Sterling (who we feel like we know by now, despite never actually seeing his face). As well as finding love on the show, the singer and dancer - who has worked on cruise ships and in bars - won prize money.
The judges said: "This year's Hyundai Mercury Prize shortlist celebrates the remarkable power of British music". Last year, the grime star and frequent Drake collaborator Skepta won the Mercury Prize for Konnichiwa .
The Blazers have been rumored to be involved in the Carmelo Anthony or Kyrie Irving sweepstakes, likely as a third team. The Portland Trail Blazers have traded Allen Crabbe to the Brooklyn Nets , according to Adrian Wojnarowski of ESPN .
The newspaper reports that other automakers are also developing solid-state batteries for next-generation electric cars. How quickly the new EVs will catch on would also depend largely on battery costs.
Yet each new revelation brings back the question of who is Donald Trump and what's going on with Russian Federation . President Donald Trump won the White House by defying conventional wisdom and following his instincts.
On Tuesday, he said that Sessions should get tougher on the leaks coming from the intelligence community. President Donald Trump isn't letting up on his Twitter criticism of Attorney General Jeff Sessions .
The MeT Centre here predicted that heavy to very heavy rain would occur at several places in Gujarat during the next two days. 10,300 people have been evacuated from Banaskantha , 9790 from Patan district and another 950 people from Morbi district.
Court orders Baby Charlie Gard to be moved to hospice to die
Francis said Charlie's mother and father now accept that the only options for their son "are the hospital or the hospice ". Earlier this week Charlie's parents ended their legal fight to take him to the United States for experimental treatment .
Trump's transgender ban: A look at both sides
President Donald Trump took to Twitter Wednesday morning declaring a ban on transgender people from serving in the military. Trump said his administration would not allow transgenders to serve in any capacity in the United States armed forces.
Manchester City spree continues with Mendy arrival
For such a young player, he has a wealth of top-level experience, ' City's director of football Txiki Begiristain said. Club of the English Premier League " Manchester city " announced the transition defender "Monaco" Benjamin Mendy .
Charlie Gard's Parents Back In Court
When asked about the possibility of moving Charlie to a hospice he told the judge that was "the next best option" for the family. Here, as throughout the case, there remain two aspects to be balanced: Charlie's best interests and his parents' needs.
Saudi-led bloc unveils new Qatar 'terrorist' list
The four Arab nations closed their borders to the Qatari people and are deporting Qatari citizens from their countries. He added that both sides know that their interests in Qatar can not conflict.