Soybeans are offloaded from a combine as a farmer harvests crops in Indiana. AP
30 October, 2018, 12:29
Non-residential fixed investment grew at just a 0.8 percent, and the Economic Policy Institute said that such investment is growing more slowly in the first three quarters of 2018 than it did in the same period in 2017 - before the tax cuts went into effect.
Total exports fell 3.5 per cent, the weakest showing since the end of 2016, while imports gained 9.1 per cent, the fastest growth since the end of past year. They estimate a 0.1 percentage-point boost to GDP from corporate America, down from 1.2 percentage points in the second quarter.
The latest economic report card capped a week of mixed economic news.
That was the fastest pace since the fourth quarter of 2014 and followed a 3.8% pace of increase in the second quarter.
The US Commerce Department said strong consumer and government spending helped to bolster the economy.
Within that category, spending on structures shrank 7.9%, the biggest drop in nearly three years, after a 14.5% surge in the prior period that partly reflected investment in oil production.
Third quarter GDP topped expectations and shows the USA economy continues to grow at a strong rate. Companies outside the United States stockpiled on goods ahead of the implementation of tariffs, providing a more than one-percentage-point boost to GDP in Q2.
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"The risk to the expansion from elevated inflation moved up early in the year, but has eased over the last six months and remains modest compared to risks in the 2000s or in 2011", the authors wrote. The report was one of the last major economic indicators before Election Day (there will be one more jobs report released November 2). Purchases rose across most major categories including motor vehicles, recreational goods, food and clothing, in part reflecting the support from steady hiring and the lowest unemployment rate in about five decades.
The Commerce Department said it wasn't possible to estimate the overall impact to GDP from Hurricane Florence, which made landfall in coastal North Carolina in mid-September.
Sen. Roger Wicker (R-Miss.) echoed the sentiment, while adding that the report is the latest indicator that Republican policies like tax and regulatory cuts have reenergized the economy. However, since that time exports of soybeans have dropped each month which increased the trade deficit.
The Fed raised rates in September for the third time this year and removed a reference to monetary policy remaining "accommodative" from its policy statement.
On the business side, apart from a leap in the intellectual property rights, one of the workhorses of the administration Trump, business investment is a bit stalled. While President Trump hailed the headline figure of 3.5% growth in GDP, there were serious signs of weakness in the quarterly report. Inventories had trimmed 1 percentage point off growth in the second quarter but boosted growth by 2 percentage points in the third quarter. Recent reports indicate the industry is slowing amid higher prices and rising mortgage rates, as well as a lack of affordable listings.
Housing continued to be a drag, falling for a third straight quarter. Trump's trade war with China is set to escalate in January, when tariffs on about half of all imports from China jump from 10% to 25%.
Solid domestic demand and some front-loading of imports ahead of a January rise in levies on Chinese goods may further widen the trade gap.
Saudi Arabia has detained 18 people and dismissed five senior government officials as part of the investigation into Mr. Saudi officials characterize the killing as a rogue operation carried out by Saudi agents who exceeded their authority.
Police responded to a call that reported an active shooter in Pittsburgh's Squirrel Hill neighbourhood just before 10 a.m. Michael Eisenberg, the immediate past president of the Tree of Life Synagogue , lives about a block from the building.
Now, the most interesting part of the above post was how Nick got swayed on seeing his fiancée in her bridal shower . In London, he closed down an entire Tiffany&Co. store in order to pick out the flawless ring for his lady love.
And with the team's impressive recent run of results, there is no reason to suggest that the home fans won't be going home happy. For Vettel to win he needs to collect maximum points in the following 3 races (75 point) which will put him on 351 points.
The Dutch goalkeeper was a late substitute after Hugo Lloris was sent off with Spurs leading PSV 2-1 in Group B on Wednesday. The Dane's cross for Kane's 55th-minute strike was inch-perfect, and the preceding link-up with Son was superb.
Idlib has been calm since, though some militant groups have not met an October 15 deadline to evacuate the demilitarized zone. The talks come ahead of the summit on the Syrian peace settlement between leaders of Russia , Turkey, Germany and France .
The latest change means it will be brighter for one hour in the morning and sunset will come one hour earlier in the evening. But GMT (Greenwich Mean Time) begins at 2am on the last Sunday in October , when the clocks should be set back an hour.
Charlotte-Mecklenburg Schools issued a statement saying the student was shot Monday morning at Butler High School in Matthews. Many initially gathered at the nearby Elevation Church to pray after the incident as they waited to hear news.
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Browns fire head coach Hue Jackson
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Green Bay Packers trail Los Angeles Ram 16-13
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Angela Merkel to step down as Chancellor after 2021
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Brazil votes with far-right Jair Bolsonaro favorite to win
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Bomb suspect set for Florida court appearance
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