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

Popular

Greenback descends versus yen

On Thursday, the evergreen buck was just a touch lower versus the Japanese yen after reaching an eight-week peak overnight…

Gold is at 5-month minimums on stronger greenback

On Friday, gold dived to five-month minimums because optimism as for the US tax reform overhaul kept underpinning demand for the US dollar ahead of the highly-anticipated American nonfarm payrolls report to be released a bit later in the day…

Gold descends on profit-taking in Asia

On Monday, gold sank on profit-taking in Asia because market participants are closely watching the evergreen buck for potential further dives closely connected with a more gentle than anticipated rate lift path by the key US bank in 2018 after gloomy…

promotions you can be interested in

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

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