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U.S. GDP Unexpectedly Jumps More Than Previously Estimated In Q3
(RTTNews) - Revised data released by the Commerce Department on Wednesday showed the U.S. economy grew by more than previously estimated in the third quarter.
The report said real gross domestic product spiked by 2.9 percent in the third quarter compared to the previously reported 2.6 percent surge. Economists had expected the pace of GDP growth to be unrevised.
The Commerce Department said the stronger than previously estimated growth reflected upward revisions to consumer spending and nonresidential fixed investment.
Imports, which are a subtraction in the calculation of GDP, also decreased more than previously estimated.
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U.S. Govt Has Started To Fire Federal Workers
The U.S. government has started to layoff federal employees, the Office of Management and Budget's chief Russell Vought said on the 10th day of the shutdown. In a post on the social media platform X, Vought said, "The RIFs have begun." RIF is an acronym for reduction in force.
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3 dias atrás
U.S. Consumer Sentiment Virtually Unchanged In October
A report released by the University of Michigan on Friday showed its reading on U.S. consumer sentiment was virtually unchanged in the month of October.
The University of Michigan said its consumer sentiment index edged down to 55.0 in October from 55.1 in September. Economists had expected the index to slip to 54.2.
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3 dias atrás
IMF Chief Georgieva Says World Economy Doing 'Better Than Feared'
Global economy is coping with shocks in a better-than-expected manner, but there is a risk that the resilience has not yet been fully tested, International Monetary Fund Managing Director Kristalina Georgieva said on Wednesday.
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5 dias atrás
Fed Minutes Reveal Officials Expressed Range Of Views About Interest Rate Outlook
Ahead of its next monetary policy meeting later this month, the Federal Reserve on Wednesday released the minutes of its September meeting. The Fed announced its widely expected decision to lower interest rates by 25 basis points to 4.0 percent to 4.25 percent following the meeting, citing a shift in the balance of risks.
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5 dias atrás
U.S. Mortgage Applications Fall For Second Week, Demand For ARMs Rise: MBA
Home loan applications in the U.S. declined for a second week in a row, but at a slower pace, and there was an increase in demand for the riskier adjustable-rate mortgages as homebuyers look for best deals, survey data from the Mortgage Bankers Association showed on Wednesday.
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5 dias atrás
U.S. Service Sector Activity Unchanged In September
Service sector activity in the U.S. was unchanged in the month of September, the Institute for Supply Management revealed in a report released on Friday. The ISM said its services PMI fell to 50.0 in September from 52.0 in August, with a reading of 50.0 serving as the breakeven point between expansion and contraction. Economists had expected the index to edge down to 51.7.
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10 dias atrás
U.S. Mortgage Applications Decline - MBA
U.S. mortgage applications decreased in the week ended September 26 after rising in the previous three weeks, latest survey data from the Mortgage Bankers Association showed on Wednesday.
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12 dias atrás
U.S. Manufacturing Index Inches Higher In September But Still Indicates Contraction
A report released by the Institute for Supply Management on Wednesday showed its reading on U.S. manufacturing activity crept slightly higher in September but continued to indicate contraction. The ISM said its manufacturing PMI edged up to 49.1 in September from 48.7 in August, although a reading below 50 still indicates contraction. Economists had expected the index to inch up to 49.0.
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12 dias atrás
