Stock market falls again as GDP report shows economic weakness
Stock market falls again as GDP report shows economic weakness
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29 October, 2018, 11:30
While that was a slowdown from a 4.2% pace in the second quarter, it still exceeded the economy's growth potential, which economists put at 2%. By buying more, the importers seem to have anticipated, in July and August the second round of tariffs on chinese goods imposed in September. During the past 4 quarters, GDP has grown 3.0 percent. Investment spending in new residences has now fallen for three quarters (nine months) in a row and the decline seems to be picking up.
"The big swings in trade and inventories between the second and third quarters are likely at least partially due to changes in activity associated with trade policy", said Daniel Silver, an economist at JPMorgan in NY. World GDP would fall further should Trump follow through on all his trade threats, including global duties on cars, the International Monetary Fund said.
They noted that Friday's GDP report showed business investment slowed dramatically in the third quarter, growing at an annual rate of just 0.8 per cent, the weakest in almost two years, after a much stronger 8.7 per cent gain in second quarter. Companies paused spending earlier than some economists expected given the fiscal boost from Republican-backed tax cuts.
China's economic growth is expected to reach around 6.6 percent in 2018, according to a research report jointly released by Economic Information Daily, Xiamen University and University of London on Thursday. The dollar briefly rose to a two-month high against a basket of currencies on the data.
"Every time we do something great, he raises interest rates", Trump said in an interview this week with the Wall Street Journal in which he again said he viewed the Fed as the "biggest risk" facing the economy "because I think interest rates are being raised too quickly". US Treasury yields fell.
A 3.5% growth in the 3rd quarter is the second strongest in the past four years, after the 2nd quarter of 2018.
Gregory Daco, chief US economist for Oxford Economics, said he expects more modest GDP growth in coming quarters, citing the fading impact of the tax cuts, higher interest rates from the Federal Reserve and increasing trade tensions. But some private economists worry that the recent stock market declines could be a warning signal of a coming slowdown. Excluding food and energy, the central bank's preferred price index also rose at a 1.6% rate. That was the fastest pace since the fourth quarter of 2014 and followed a 3.8 per cent pace of increase in the second quarter.
On Friday, October 26, the US stock market fell again.
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 previous year.
The economy has been expanding in the 2 percent range in the past few years, but growth spiked in the second quarter, boosted by consumer spending and exports. Shares of Caterpillar Inc., an economic bellwether, tumbled this week after the maker of mining and construction equipment said manufacturing costs were higher due to rising material and freight costs.
Housing remained a weak spot, posing the third consecutive drag on GDP growth, with a contraction of 4%.
Meghan Markle may not have her own social media feeds anymore, but that doesn't mean she has no presence on social media. The newlywed posted a snapshot of her husband, Prince Harry , at the Invictus Games closing ceremony rehearsal Saturday.
The timeline for pockets of heavy rain and strongest gusts appear to linger through the afternoon into the early evening. Under mostly cloudy skies, we'll still see high temperatures stretch into the mid to upper 50s across the viewing area.
A 12-year-old boy was the sole survivor of a plane crash that killed eight people in mountainous eastern Indonesia in August. No one was reported injured in either of those incidents, according to reports on the website Aviation Safety Network.
The 33-year-old Price, a Cy Young Award victor in 2012, long pitched under an October shadow cast by his regular-season success. He became the first to pitch into the eighth inning of a Series game on one day of rest since the Yankees' Bob Turley in 1957.
In addition, the new models are generating 7 percent more revenue than the iPhone 8, 8 Plus, and iPhone X combined. On the other hand, iPhone XR has the potential to corner more than 40 percent of existing iPhone users.
Currency appreciation saw European billionaires' wealth grow by 19% although the number of billionaires rose by just 4% to 414. The total number of billionaires reached 2,158 a year ago , up 9% from 2016, according to a new report from UBS and PwC .
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Feige said the character could make an appearance, but the studio hadn't decided whether that was something it wanted to do yet. Second, when will we see a trailer ? " Avengers 4 " will feature a blast from Captain America's past.
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Vets were called last week as Whisper's condition worsened, and he passed away around six days ago in Windsor Castle. A source revealed to the Mail: "Whisper was a friendly chap and followed her everywhere. says a source".
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