DJIA26935.07
LIVE-159.72(-0.59%)
NDX7823.55
LIVE-78.24(-0.99%)

U.S. Growth Slows to 2.1% as Trade Tensions Weigh on Businesses


Friday, 26 July 2019 19:44 WIB

Ekonomi ASPDB ASGDP AS


c_740_198_16777215_00_images_assets_12Ekonomi20180428071624_normal.jpg

U.S. economic growth slowed in the second quarter by less than forecast as consumer spending topped estimates, though weaker business investment and exports underscored the risks spurring the Federal Reserve toward an interest-rate cut next week.

Gross domestic product expanded at a 2.1% percent annualized rate, according to Commerce Department data Friday that topped forecasts for 1.8%. That follows an unrevised 3.1% advance in first quarter and updated data showing growth last year was slower than previously reported.

Consumer spending, the biggest part of the economy, increased 4.3%, while government spending climbed 5% and offered the biggest boost in a decade. Nonresidential investment fell 0.6% for the first drop since 2015 and residential decreased for a sixth straight period.

The mixed report highlights how President Donald Trump -- who's repeatedly called for lower interest rates -- is enjoying signs of a solid economy while his trade war with China weighs on the expansion and fuels uncertainty for global businesses. Revised data released Friday showed the economy missed Trump's 3% growth goal in 2018, after previous data had showed it matching.

Friday’s report showed fresh evidence that trade is weighing on the expansion as exports dropped 5.2% while imports rose just 0.1%. Overall growth on a year-over-year basis slowed to 2.3%, the weakest pace in two years.

Source : Bloomberg


RELATED NEWS

  • U.K. retail sales fell 0.2% in August, as the prior month's gain from Amazon Prime Day reversed with a drop in non-store retailing. Economists polled by FactSet had forecast a 0.2% dip. The year-on-ye...
  • Australia's unemployment rate rose in August reflecting a slowdown in the economy, and adding to a fast-growing case for interest rates to be cut further in coming months. Unemployment rose to a seas...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.