Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

U.S. Slowed Down Growth as Weakened Consumer Spending


July, 02 2018
watermark Economic news

The U.S. economy slowed down compared in the first quarter as the consumer spending has performed weakly in almost five years. Yet, it seems that momentum of growth has kicked up amid a strong labor and tax cuts.

The gross domestic product rose by 2.0 percent at an annual rate in the first three months of the year, as the third estimate for the first quarter, according to the report by the Commerce Department on Thursday. This is in comparison of the 2.2 percent in the previous month.

In the last quarter of 2017, the economy grew by 2.9 percent rate. The decline in the first quarter shows weaker consumer spending and a smaller inventory supply than the estimate in the previous month.

The tax cut package amounts to $1.5 trillion income implement in January, reflecting economic growth at a faster rate in the second quarter in line with the 3 percent target of Trump administration.

Economists indicate the "America First" policies that escalated fears on trade wars that dims the economic outlook.

The growth estimate is as high as 5.3 percent while the economists anticipate growth at unrevised 2.2 percent. Another measure of growth is Gross Domestic Income (GDI) which climbed at a faster rate by 3.6 percent rate in three months to March. The statistics were revised higher from the 2.8 percent rate last month.

The average of GDP and GDI called as gross domestic output shows a better measure of economic activity that rose grew by 2.8 percent in the first quarter compared to the 2.5 percent estimate in May.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.