American economy slows due to hurricanes in the third quarter

American economy slows due to hurricanes in the third quarter

American economic surge probably slowed during the third quarter because hurricanes Harvey along with Irma affected consumer spending as well as construction activity. However, underlying momentum is still sturdy enough amid upbeat business investment on equipment.

As a Reuters survey of market experts states, the US GDP inched up at a 2.5% annual rate from July to September.

On Friday, the Commerce Department is expected to release its first evaluation of third-quarter GDP surge. Excluding the hurricane-related disruptions, market experts tell that third-quarter GDP ascend would have either matched or surpassed the tempo observed from April to June.

With post-hurricane labor market, industrial output as well as retail sales data already demonstrating a rebound in activity, the upcoming report will most likely have no impact on the US monetary policy in the near future.

In December, the Fed is believed to lift interest rates for a third time in 2017.

Similar

British inflation edges up 2.4%

In June, inflation in Great Britain tacked on at a slower than anticipated tempo, thus contributing to the major bank’s dilemma as it considers whether to have interest rates lifted next month or not…

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera