The ECB brings an opportunity to the EUR traders
The European central bank will conduct its press conference on January 24 at 15:30 MT time.
American second-quarter GDP surge jumps to 4.2%
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.
Similar
American home sales reach three-year minimum
In December, American home sales slipped to their lowest value for three years…
UK pay surge reaches fresh 10-year maximum as employment jumps
UK employees’ pay surge reached another 10-year maximum and employment rallied by much more than anticipated for the three months to the end of November due to the fact that the UK labor market was still firm notwithstanding other signs of an economic…
Latest news
Weekly CryptoNews
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
Most Asian stocks post strong revenues with Nikkei rising more than 2%
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan real wages surge is slowest in almost two years
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
Deposit with your local payment systems
