And as we noted when the original second-quarter number was reported a month ago, the growth in the second quarter was likely more attributable to Obama administration policies than Trump's since the current president hasn't been in office long enough to have had a measurable effect on the economy. "The expectations for an interest rate hike in December are a little bit larger "Wednesday", says Chris Low".
In terms of Q3 growth, CIBC still calls for expansion of closer to 2%, "with export and inventories among the categories likely to weigh on that quarter's pace, and housing turnover remaining slower than it had been earlier in this cycle". Thus, a cursory read of the data would suggest that the economy continues to plod along on a 2-precent growth path, consistent with what we have seen for years.
Zandi is forecasting that growth in 2018 will be an even stronger 2.8 percent.
Growth in the second quarter was "above the trend for the expansion" but came "after a below-trend pace" in the first quarter, said Jim O'Sullivan, chief US economist at High Frequency Economics, in a note to clients. "And while it was once again consumers in the driver's seat, another strong quarter of income growth meant that households were able to increase their savings rate a touch while still keeping their wallets open". It's more than double the pace of the first three months of 2017 and better than original estimates for the second quarter.
GDP growth exceeded 3% in four quarters on a year-over-year basis, though it never grew 3% over a calendar year.
The U.S. dollar softened against a basket of currencies following lackluster U.S. economic data that failed to boost expectations for another Federal Reserve rate increase this year.
The U.S. economy rebounded sharply in the spring, growing at the fastest pace in more than two years amid brisk consumer spending on autos and other goods.
The Canadian dollar strengthened against the United States dollar and traders raised bets for another 25-basis-point rate hike that could come as soon as next month. The report said 14 of 20 industrial sectors saw growth in June.
The report also showed strength in business investment. Increased business spending also helped lift the latest estimate above the Commerce Department's initial reading of 2.6 percent for the quarter.
The pickup in business investment "reflects two important factors", said Stephen Stanley, chief economist at Amherst Pierpont Securities, in a note to clients. Second, businesses are starting to more aggressively spend on equipment.
On Tuesday, only hours after Sulcer was found dead, Riley told PEOPLE the devoted mother "absolutely saved the child's life". Her daughter was awake but suffering from hypothermia when she was rescued.
His company had started an online campaign to attract more customers, but has chose to halt those efforts for now. Until now, the search giant hasn't taken any action on the Iranian apps available in the Play Store.
The world is still reeling from Apple's decision to snip the headphone port off iPhone 7 - but a bigger change could be incoming. According to MacRumors , the wireless charging feature of the iPhone 8 might be half the charging speed of standard chargers .
He added that settlement activity is illegal under worldwide law, calling it an "obstacle" that needs to be removed. Besides Israel and the Palestinian territories, Macron said the trip will include Lebanon and Jordan.
The system is forecast to move near the northeastern coast of SC and along the North Carolina coast Monday night and Tuesday . The system is then forecast to hug the coast of North and South Carolina Monday evening into Tuesday morning.
Over the previous several days, Taylor has mysteriously wiped out her social media and posted a video of a slithering snake. And behind her image, mock newspaper articles with her name in the headlines fill the entire right side of the picture.
Last year, Microsoft release the Xbox One S model, with some interior improvements along with a slightly smaller sized console . The US site only has a listing for refurbed versions, while they're marked as " Out of Stock " in the United Kingdom store.
As the preseason wore on Bortles, he and Henne ended up in a competition for who would gain the starting position. Henne has not thrown a pass in a single regular season game since being benched three weeks into the 2014 season.
Look What Taylor Swift Did
Within the first verse she makes a comment about Kanye West and his titled stage from his Saint Pablo tour. In the video , a reporter asks Kardashian what the No. 1 song on her iPod is.
Google releases preview of ARCore
With this set of basics, developers should be able to sink their teeth into some basic augmented reality thanks to ARCore . ARcore combines the information from clusters of points to get a better understanding of the environment and its features.
Five things we learned from Manchester United v Leicester City
And it is worth mentioning that the team probably would not have won the match had not been for the subs. "We kept playing today". United have made a fast start in the league with three wins from three , and Lindelof admits he'd like to be part of the action.
Samsung Introduces New Fitness Products
This altered quite heavily depending on how hard the band was pushed and whether Global Positioning System was on or off. It's also water resistant up to 50 meters too, so it can survive a dunk in the bath and a dip in the swimming pool.
Three more Erdogan guards indicted over Erdogan melee
On the day of the violence, police detained two members of Erdogan's security detail but released them shortly afterward. Two of the defendants were arrested in June following the incident, but the rest of the defendants are now at large.
Starting RB Jordan Scarlett suspended
Desir-Jones saw playing time in two games last season on the offensive line, but switched to defensive line this season. Freshman wide receiver James Robinson was then suspended after being cited for marijuana possession last week.
India Saddened Over Violence And Terrorist Attack In Myanmar
Their statement says they absolutely do not accept terrorist attacks and they can not accept terrorist acts in the name of Islam. He urged Bangladesh to seek global support to provide food, medical and humanitarian care for the new arrivals.
Amazon moves fast to cut Whole Foods prices
The ever-expanding flywheel effect of Amazon's Prime loyalty will continue with the company's acquisition of Whole Foods. Whole Foods has more than 460 shops with the bulk of stores in the USA and Canada and seven in the UK.
Led Airstrikes Kill 167 Civilians in Syria
For the first time, a child of purported USA origin has been put in front of ISIS cameras as a mouthpiece for the terror group. In its three-year campaign in Syria and Iraq , the coalition says it can verify 624 unintentional civilian deaths.
Gwyneth Paltrow returning as Pepper Potts for Avengers 4
In the film Spider-Man: Homecoming , Tony Stark was about to propose to her in front of reporters at the end of the film. It looks like Iron Man will have his on-screen partner Pepper Potts right by his side in the upcoming Avengers 4 .
Rocket League® - Nintendo Switch Battle-Cars Trailer
Rocket League is available now for PC, PlayStation 4, and Xbox One, and it launches on Nintendo Switch sometime this holiday 2017. No definitive release date has been locked down for the game yet but all signs are pointing to a release some time this year.
Can you recycle your eclipse glasses?
In the meantime, solar eclipse glasses can be mailed to Explore Scientific LLC at 1010 South 48th Street, Springdale, AR 72762. The eclipse has come and gone - and all you're left with is grainy cell phone pictures and your eclipse glasses .