United States economic growth rate revised up to 2.9% in fourth quarter

Full Speed Ahead Fourth Quarter GDP Revised Up to 2.9%!			The Associated Press		by John Carney28 Mar 20180		28 Mar 2018		28 Mar 2018

In its third estimate for fourth quarter GDP, Commerce revised growth in private consumption from 3.8% to 4.0%, with the the rise in government expenditures now seen at 3.0%, versus 2.9% beforehand.

Gross domestic product grew at a 2.9 percent annualized rate, revised up from 2.5 percent.

The Bank of Spain on Wednesday revised its figure for the third quarter from an original 98.7 percent.

In the last quarter of 2017, real gross domestic income only increased 0.9 percent, down from the healthy 2.4 percent growth the previous quarter.

Corporate profits also rose by a 1.7 percent rate in the fourth quarter after increasing at a 5.7 percent rate in the third quarter.

The Trump administration has set 3 percent as its overall growth target.

More news: Anushka Sharma's Pari to release in Russian Federation

That followed a 2.8 per cent rate of increase in the prior period. The Fed also lifted its economic growth projections for this year and 2019. Those are the first full quarters that Donald Trump had been president. Stocks on Wall Street were trading mostly higher, while prices of U.S. Treasuries edged up.

However, growth for the current quarter is expected to be more like Obama-era growth.

The trade deficit widened sharply in January.

Business investment remained solid in the fourth quarter, with fixed nonresidential investment rising at a 6.8% annual rate. It scrambled fourth-quarter earnings at some large public companies due to various one-time effects, and may have created an incentive for some firms to shift earnings and expenses between late 2017 and early 2018. As a result, inventories subtracted 0.53 percentage point from GDP growth after adding 0.79 percentage point in the prior period. That was the quickest pace since the fourth quarter of 2014 and followed a 2.2 percent rate of growth in the July-September period.

Inventories could contribute to growth in the first quarter. That was the strongest pace since the second quarter of 2015.

Related News:



Most liked

Quebec City mosque shooting Alexandre Bissonnette asks for forgiveness
Bissonnette faces at least 25 years in prison, and could receive concurrent sentences totaling more than 100 years. Members of the Quebec City Muslim community, including some of the shooting victims and their families, and Mr.

Two Airline Pilots Report Seeing The Same UFO Pass Their Planes
In a statement to KOB 4 , the NBC station in Albuquerque, the FAA essentially said it doesn't know what the object is either. However, Lunsford implied that air traffic controllers would likely know if there was military aircraft in the air.

Owing to privacy row, Farhan Akhtar quits Facebook
However, Farhan recently dismissed all the rumours around Don 3 but refrained from divulging any details. However it should be noted that the actor's live page FarhanAkhtarLive is still active. "Good morning.

Broncos acquire Su'a Cravens from Redskins
Cravens looked like a potential long-term starter during his rookie season, recording 34 tackles and an interception in 11 games. Safety Su'a Cravens has been traded to the Broncos in exchange for draft picks, according to a report from ESPN .

Hungary expels Russian diplomat in connection with Salisbury nerve agent attack
In a statement, Irish Foreign Minister Simon Coveney said the incident was a "grave challenge to our shared security". The Tánaiste says he could not support Ireland "sitting on its hands" over the Salisbury nerve agent attack.

Chara, 41, signs contract extension to play for Bruins next year
This team is pretty much set up to be contenders for years to come, and bringing back Chara was practically a no-brainer. Chara has been a fixture on the Bruins penalty kill, sometimes staying out on the ice for the whole kill.

Jeremy Corbyn accused of failing to address backlog of anti-Semitism cases
Corbyn , and a recent survey revealed that four in five believe that Labour harbours anti-Semites in its ranks. Tory cllr Peter Golds at Parliament Square demo interviewed for TV about anti-Semitism in the Labour Party.

Sensex closes 205 points lower, Nifty at 10113 points
Wednesday also marked the expiry of F&O for the month of March, resulting in more losses to the markets . The S&P BSE Metal sector witnessed a fall of 2.04% while the S&P BSE Telecom fell by 2.58%.

Prisoner escapes from federal immigration agents at JFK airport
Port Authority Police Officers did not hear of the man's escape until 9:15 p.m., a police spokesman for the agency said. Immigration and Customs Enforcement escaped from custody Wednesday at New York City's John F.

Donald Glover Rips Marvel in 'Deadpool' Script After Exiting Animated Series
The script sees Deadpool in Africa on a mission to protect Sudan , the world's last living male northern white rhino. Glover's entire Twitter thread with episode's script is below.

Man arrested in possession of hundreds of thousands of child pornography files
The Wayne County, Michigan prosecutor's office said Moore sexually assaulted the three girls over a six-year period from 2011 to 2017.

Ronda Rousey Got Crushed For How She Acted At ESPN Today
When you knew in your mind, "I'm not going to fight anymore?" Rousey: "There's a possibility I could go back in time? ". It went back to WWE and she said that everyone has gone out of their way to help her behind-the-scenes.

Clara Ponsati granted bail - but must surrender passport
Meanwhile, the Scottish Government is to raise concerns over the use of European arrest warrants with the European Commission. Karen Todner has worked on many high-profile extradition cases including those of the hackers Gary McKinnon and Lauri Love.

Dragon Quest 11 comes to the West in September
The game released in Japan on PlayStation 4 and 3DS, whereas western audiences will be getting it on PlayStation 4 and PC. It is interesting to note that there's no mention of a Nintendo 3DS version in the tweet or even on the official site .

Markets will close to protest Supreme Court sealing
Praveen Khandelwal, CAIT general secretary, said traders across the city also made their kids skip schools today. No show-cause notice nor any chance to place defence was given to traders, union leaders said.