JAKARTA
HONGKONG
TOKYO
U.S. Second-Quarter Growth Revised Down to 2% Pace From 2.1%
Thursday, 29 August 2019 19:44 WIB | ECONOMY |Ekonomi ASGDP AS

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.S. Shed 701,000 Jobs in March in Foretaste of Worse to Come
Friday, 3 April 2020 19:48 WIB

The U.S. economy shed 701,000 jobs in the month to mid-March, the government said in a monthly labor market report that largely predates any impact from the Covid-19 pandemic on the U.S. economy. The figures, normally the most eagerly-awaited data of the month in global financial markets, have alre...

U.S. Initial Jobless Claims Leap to Record 6.65 Million
Thursday, 2 April 2020 19:52 WIB

The number of Americans applying for initial unemployment benefits surged to a new record 6.65 million last week, the U.S. Labor Department said on Thursday, as the full impact of the fallout from the coronavirus pandemic on the labor market became apparent. The increase dwarfed the prior week™s ...

U.S. Factory Activity Contracts In March; Orders Tumble To 11-Year Low
Wednesday, 1 April 2020 21:30 WIB

U.S. manufacturing activity contracted less than expected in March, but disruptions caused by the coronavirus pandemic pushed new orders received by factories to an 11-year low, reinforcing economists' views that the economy was in recession. The Institute for Supply Management (ISM) said on Wednes...

U.S. Private Sector Sheds 27,000 Jobs in March: ADP
Wednesday, 1 April 2020 19:43 WIB

The U.S. private sector shed 27,000 jobs in March, according to a report by payrolls processor ADP, before the worst of the impact of the coronavirus pandemic on the U.S. labor market was seen. Economists had expected the report to show a much larger loss of 150,000 jobs. February™s figure was re...

Consumer Confidence Sinks In March To A 32-Month Low
Tuesday, 31 March 2020 21:25 WIB

Consumers started to rapidly lose confidence in the economy in March as a deadly coronavirus spread, a new survey shows, and it™s likely to plunge a lot more in the month ahead as millions are thrown out of work and the U.S. sinks into recession. The closely followed index of consumer confidence ...

ANOTHER NEWS
Tokyo stocks open slightly lower
Thursday, 9 April 2020 07:32 WIB Tokyo stocks opened slightly lower Thursday, as expectations for the impact of a massive Japanese economic package were offset by worries over the impact of the virus pandemic. The benchmark Nikkei 225 index was down 0.07 percent or 14.50 points...

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.