DJIA27094.79
LIVE-52.29(-0.19%)
NDX7901.79
LIVE13.23(0.17%)

U.S. Second-Quarter Growth Revised Down to 2% Pace From 2.1%


Thursday, 29 August 2019 19:44 WIB

Ekonomi ASGDP AS


c_740_198_16777215_00_images_assets_12GdpAmerikausGDP-1024x683.jpg

U.S. economic growth decelerated in the second quarter by more than initially reported, with stronger consumer spending offset by weaker readings across other categories that suggest President Donald Trump's trade actions are weighing more heavily on the pace of expansion.

Inflation-adjusted gross domestic product grew at a 2% annualized rate, according to Commerce Department data Thursday that matched analyst estimates and compared with an initially reported 2.1%. Consumer spending, which makes up about two-thirds of the economy, grew 4.7%, topping all forecasts with the biggest gain since 2014.

The downward revision to GDP reflected lower estimates for exports, inventories, residential investment and state and local government spending.

The report signals Trump's 3% annual growth goal may be even more out of reach as the world's largest economy faces complications from his tariffs on Chinese goods, which may further weigh on the outlook with levies set to increase Sept. 1. Investors have sent bond yields plummeting while economists project weaker growth in the second half and have boosted odds that the record-long expansion will end in the next 12 months. 

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.