Economic growth is a good thing - forget the politics
03:00, Jul 29, 2018
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Tinnaporn Sathapornnanont/Dreamstime.comThe Commerce Department's Bureau of Economic Analysissays the nation's real gross domestic product grew 4.1 percent in the second quarter of 2018.
Personal consumption expenditures increased 4 percent while business investment jumped 7.3 percent, and government spending was up by 3.5 percent.
Trump seized the chance to declare his policies, including the biggest tax overhaul since the Reagan era, a success, calling the data "amazing" and "very sustainable". Many analysts believe growth will weaken as the effects fade from the tax cuts and a government spending increase. You remember that notion, made fashionable by economist Larry Summers and picked up by the press corps to explain why the US economy couldn't rise above the 2.2% doldrums of the Obama years. "It'll be hard to repeat this performance on a sustained basis".
But the report got another boost from an unusual source: strong exports which leapt 13.3 per cent, driven higher by foreign sales of oil and soybeans, which now face stiff Chinese tariffs. "We're seeing unemployment go down to levels we haven't seen since the 1990s". The dollar and yields on 10-year Treasuries declined after the report, which also showed inflation excluding food and energy was lower than estimated.
Former President Barack Obama was doubtful the man who followed him into the Oval Office could fix the sluggish US economy, but a federal report made public Friday provides solid evidence President Donald Trump is doing just that.
The GDP report released Friday included a benchmark revision of the past GDP numbers.
The GDP numbers, released today, show an improvement over the first quarter's 2.2 percent growth.
The second quarter was big for the US economy. Without that surge, exports would have increased 5.3% instead of 9.3%, which means the GDP growth would have been around 3.6%, according to Paul Ashworth, the chief USA economist at Capital Economics. He has been trying to highlight economic gains ahead of the 2018 midterm elections. While Obama never achieved the 3 percent annual growth that Trump hopes to see, he came close.
Economists often look to a figure known as "final sales to private domestic purchasers" for a view of how the private sector is doing. Consumer spending, which accounts for 70 per cent of economic activity, rose to a 4 per cent annual growth rate after turning in a lacklustre 0.5 per cent gain in the first quarter.
Households bought motor vehicles and spent more on health care, utilities, food and accommodation in the last quarter. For the market to get back to 130 percent, it would require a much more robust pace of growth.
That challenge will be followed by a rest day on Monday before the race shifts to its first mountain stages in the Alps. The Colombian has been in great form so far and was looking for his third stage win of the race.
Last week, President Donald Trump extended an invitation to Putin to come to Washington for a second bilateral meeting. Yes I did, ' he replied, 'because he talked about bringing the U.S. -Russia relationship back to normal'.
Great cross for the opener and had looked threatening down the left, but had to go off just before half-time with a muscle injury. It would also see them equal the recent feat of their women's team , who earned bronze at the FIFA Women's World Cup Canada 2015.
Russian Federation is a foe in certain aspects. "China is a foe economically, certainly they are a foe", he told CBS. Trump departed for Helsinki on Sunday evening after spending the day playing golf at his private club in Scotland.
Nevertheless, losing a player of his talent would be a devastating blow to the Blues and arriving manager, Maurizio Sarri. However, while all may appear well for Chelsea , Terreur does state that things with Real Madrid could alter quickly.
The mother-of-one died in Salisbury District Hospital on July 8 after battling for life for nine days in intensive care. Rowley's brother Matthew told the BBC that the 45-year-old had told him the Novichok was contained in a perfume bottle.
Anthony Martial has been told he can leave Manchester United - but only for the right club and the right price. United are expected to make a rival offer for the 29-year-old but "the lure of Barcelona is strong".
When it came to interest rates, Nixon told his advisers "we'll take inflation if necessary, but we can't take unemployment". He accused Beijing of stealing intellectual property, manipulating the yuan, and exposing illegal export subsidy practices.
Fabregas begs Hazard to stay at Chelsea
Sarri was giving his first press conference since taking over at the helm, and spoke to the media in both English and Italian. I don't want to talk about the transfer market and am not that interested in it.
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They lost the 2016 Euro final 1-0 to Portugal at Stade de France with a roster that included nine holdovers on this year's team. Their playing style may not be attractive, but it was certainly effective and they have made their country very proud.
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Several current Louisville football players expressed on Thursday a desire to have the name of the stadium changed as well. Papa John's latest controversy has begun to cost the brand relationships with baseball teams across the majors.