The U.S. economy maintained a fairly strong pace of growth in the second quarter, the government confirmed on Thursday, and appears to have gathered momentum this quarter amid a resilient labor market.
Gross domestic product increased at an unrevised 2.1% annualized rate last quarter, the Commerce Department said in its third estimate of GDP for the April-June period on Thursday. Economists polled by Reuters had expected GDP for the second quarter would be unrevised.The government also revised GDP data from 2017 to incorporate new source information and made some statistical improvements such as the treatment of regulated investment companies and real estate investment trusts.
The government also introduced new price measures, the personal consumption expenditures price index excluding food, energy and housing, and PCE services excluding energy and housing, or the so-called super core inflation. The economy is being underpinned by a resilient labor market, which is driving strong wage gains. Growth estimates for the July-September quarter are currently as high as a 4.9% rate.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
New study on how governments can fund radical ecological and social policies without GDP growthAccording to a new study led by a researcher at Freie Universität Berlin's Otto Suhr Institute of Political Science, the level of gross domestic product (GDP) has no impact on the ability of states with monetary sovereignty to fund investments in radical decarbonization measures and ambitious social policies such as universal public services and a job guarantee. The study, 'How to pay for saving the world: Modern Monetary Theory for a degrowth transition,' has just been published in the journal Ecological Economics.
Weiterlesen »
Exclusive: German economic institutes forecast 0.6% GDP contraction this yearFive economic institutes are predicting gross domestic product (GDP) in Germany will contract by 0.6% in 2023, three sources told Reuters on Tuesday, as rising interest rates take their toll on the economy and high inflation depresses consumption.
Weiterlesen »
Saudi Arabia's GDP Tops $1 Trillion as Oil Prices SurgeSaudi Arabia announced that its gross domestic product had crossed the threshold of $1 trillion for the first time in its history.
Weiterlesen »
EUR/GBP falling back from 0.8700 as markets gear up for EU CPI, UK GDPThe EUR/GBP pulled back from recent highs to settle into 0.8660 after reaching a session peak of 0.8706. The Euro (EUR) couldn't hang onto gains again
Weiterlesen »
GBP/JPY consolidating below 182.00 ahead of Japan CPI, UK GDPThe GBP/JPY continues to struggle to push decisively in either direction and has been constrained between the 182.00 and 181.00 major levels for the p
Weiterlesen »
EUR/USD loses traction near 1.0500, investors await Eurozone CPI, US GDP dataThe EUR/USD pair loses momentum around 1.0500 during the early Asian session on Thursday. The selling pressure of the major pair is supported by the f
Weiterlesen »