U.S. GDP Declines 0.6% In Q2, Unrevised From Previous Estimate

RTTNews | 955 hari yang lalu
U.S. GDP Declines 0.6% In Q2, Unrevised From Previous Estimate

(RTTNews) - The Commerce Department released its third estimate of U.S. economy activity in the second quarter on Thursday, showing the decrease in gross domestic product was unrevised from the previous estimate.

The report said real GDP fell by 0.6 percent in the second quarter, unchanged from the drop reported last month and in line with economist estimates.

The dip in GDP in the second quarter follows a 1.6 percent slump in the first quarter, with the two consecutive decreases signaling the U.S. economy is in a technical recession.

The Commerce Department said the decrease in GDP was unrevised, as an upward revision to consumer spending was offset by a downward revision to exports.

The extended decline in GDP in the second quarter reflected decreases in private inventory investment, residential fixed investment, federal government spending, and state and local government spending.

Increases in exports and consumer spending helped limit the downside, with consumer spending jumping by 2.0 percent in the second quarter after climbing by 1.3 percent in the first quarter.

Meanwhile, the report showed the annual rate of growth in core consumer prices in the second quarter was upwardly revised to 5.0 percent from 4.8 percent.

"To the extent that there are any clear implications for the Fed, that will further support officials' current hawkish stance," said Andrew Hunter, Senior U.S. Economist at Capital Economics.

The surge in core consumer prices, which exclude food and energy prices, was still slightly slower than the 5.3 percent spike in the first quarter.

read more
U.S. Wholesale Inventories Climb Slightly Less Than Expected In March

U.S. Wholesale Inventories Climb Slightly Less Than Expected In March

The Commerce Department released a report on Thursday showing wholesale inventories in U.S. increased by slightly less than expected in the month of March. The report said wholesale inventories rose by 0.4 percent in March after climbing by an upwardly revised 0.5 percent in February.
RTTNews | 3 hari yang lalu
U.S. Labor Productivity Decreases For First Time Since 2022

U.S. Labor Productivity Decreases For First Time Since 2022

The Labor Department released a report on Thursday showing a pullback by U.S. labor productivity in the first quarter of 2025 along with a sharp increase by unit labor costs. The report said labor productivity fell by 0.8 percent in the first quarter after jumping by an upwardly revised 1.7 percent in the fourth quarter of 2024.
RTTNews | 3 hari yang lalu
U.S. Weekly Jobless Claims Dip Slightly More Than Expected

U.S. Weekly Jobless Claims Dip Slightly More Than Expected

First-time claims for U.S. unemployment benefits saw a modest decline in the week ended May 3rd, according to a report released by the Labor Department on Thursday. The report said initial jobless claims dipped to 228,000, a decrease of 13,000 from the previous week's unrevised level of 241,000. Economists had expected jobless claims to slip to 230,000.
RTTNews | 3 hari yang lalu
U.S. Weekly Jobless Claims Dip To 228,000

U.S. Weekly Jobless Claims Dip To 228,000

First-time claims for U.S. unemployment benefits saw a modest decline in the week ended May 3rd, according to a report released by the Labor Department on Thursday.
RTTNews | 3 hari yang lalu
Fed Leaves Interest Rates Unchanged, Warns Of Higher Unemployment, Inflation.

Fed Leaves Interest Rates Unchanged, Warns Of Higher Unemployment, Inflation.

The Federal Reserve on Wednesday announced its widely expected decision to leave interest rates unchanged, highlighting increased uncertainty about the economic outlook. The Fed said it decided to leave the target for the federal funds rate at 4.25 to 4.50 percent for the third straight meeting.
RTTNews | 4 hari yang lalu
U.S. Trade Deficit Spikes To Record High In March As Import Surge

U.S. Trade Deficit Spikes To Record High In March As Import Surge

The U.S. trade deficit spiked by much more than expected in the month of March, according to a report released by the Commerce Department on Tuesday. The report said the trade deficit soared to a record high $140.5 billion in March from a revised $123.2 billion in February.
RTTNews | 5 hari yang lalu