
What happened? On Monday, February 21, Russian President Vladimir Putin signed decrees recognizing the sovereignty of the Donetsk and Lugansk People's Republics…
In the second quarter, American economic surge turned out to be a bit stronger than initially anticipated, demonstrating its best performance for nearly four years and putting the US economy on track to meet the Trump administration's objective of 3% annual surge.
GDP jumped at a 4.2% annualized rate, as the Commerce Department informed. It rallied a bit from the 4.1% tempo of expansion posted in July. What’s more, since the third quarter of 2014 it happened to be the fastest rate.
The US economy rallied at a 2.2% tempo during the January-March period. Apparently, the moderate upward revision to surge the previous quarter actually reflected more business shelling out funds on software than previously anticipated and also less imported petroleum.
Firmer software investment along with a smaller import bill compensated a downward update of consumer spending. US leader, whose administration has backed boosting annual economic surge to 3% on a regular basis, appreciated the updated second-quarter report.
The American managed to expand by 3.2% in the first half of this year, adding from the 3.1% estimated in July. In contrast with the second quarter of the previous year, output jumped by 2.9%, instead of the previously posted 2.8%. Market experts stressed that the second-quarter surge tempo was unsustainable as it was mostly powered by one-off factors.
Besides this, the American economy faces constraints, including low productivity as well as slow population surge.
However, there are indications that some of the momentum was lost in the beginning of the third quarter. On Tuesday, the US government informed that the goods trade deficit rallied by 6.3% hitting $72.2 billion in July due to the f act a 6.7% dip in food shipments put pressure on exports.
While in the third quarter consumer spending has been still firm, the housing market has decreased further with homebuilding adding less than anticipated in July and sales of new as well as previously owned houses dipping in the face of a dearth of properties.
What happened? On Monday, February 21, Russian President Vladimir Putin signed decrees recognizing the sovereignty of the Donetsk and Lugansk People's Republics…
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The United States will publish the Federal Open Market Committee Meeting Minutes on November 24, at 21:00 GMT+2.
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
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