U.S. GDP Unexpectedly Jumps More Than Previously Estimated In Q3
(RTTNews) - U.S. economic activity unexpectedly jumped more than previously estimated in the third quarter, according to revised data released by the Commerce Department on Thursday.
The report showed the surge in real gross domestic product in the third quarter was upwardly revised to 3.2 percent from the previously reported 2.9 percent. Economists had expected the pace of GDP growth to be unrevised.
The stronger than previously estimated growth in the third quarter came after GDP slumped by 1.6 percent in the first quarter and fell by 0.6 percent in the second quarter.
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U.S. Construction Spending Climbs Much More Than Expected In December
A report released by the Commerce Department on Monday showed construction spending in the U.S. increased by much more than expected in the month of December. The Commerce Department said construction spending climbed by 0.5 percent to an annual rate of $2.192 trillion in December after rising by 0.2 percent to a revised rate of $2.180 trillion in November.
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1 day ago
U.S. Manufacturing Index Indicates Growth For First Time In Over Two Years
Following 26 consecutive months of contraction, the Institute for Supply Management released a report on Monday showing U.S. manufacturing activity expanded in the month of January. The ISM said its manufacturing PMI rose to 50.9 in January from 49.2 in December, with a reading above 50 indicating growth. Economists had expected the index to inch up to 49.8.
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1 day ago
Chicago Business Barometer Increases But Still Indicates Contraction
MNI Indicators released a report on Friday showing its reading on Chicago-area business activity increased in the month of January but continued to indicate contraction. The report said the Chicago business barometer rose to 39.5 in January from 36.9 in December, although a reading below 50 still indicates contraction. Economists had expected the index to climb to 40.0.
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4 days ago
U.S. Consumer Price Growth Matches Estimates In December
The Commerce Department released a closely watched report on Friday showing consumer prices in the U.S. increased in line with economist estimates in the month of December. The report said the personal consumption expenditures (PCE) price index rose by 0.3 percent in December after inching up by 0.1 percent in November. The increase matched expectations.
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4 days ago
U.S. Consumer Prices Increase In Line With Estimates In December
The Commerce Department released a closely watched report on Friday showing consumer prices in the U.S. increased in line with economist estimates in the month of December.
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4 days ago
U.S. Pending Home Sales Unexpectedly Pull Back Sharply In December
After reporting four straight monthly increases by U.S. pending home sales, the National Association of Realtors released a report on Thursday showing pending home sales unexpectedly pulled back sharply in the month of December. NAR said its pending home sales index plunged by 5.5 percent to 74.2 in December after jumping by 1.6 percent to a downwardly revised 78.5 in November.
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5 days ago
U.S. Economic Growth Slows More Than Expected In Q4
U.S. economic growth in the fourth quarter of 2024 fell short of economist estimates, according to a report released by the Commerce Department on Thursday. The report said gross domestic product shot up by 2.3 percent in the fourth quarter after surging by 3.1 percent in the third quarter. Economists had expected GDP to jump by 2.6 percent.
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5 days ago
U.S. Jobless Claims Dip More Than Expected To 207,000
A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits pulled back by more than expected in the week ended January 25th. The Labor Department said initial jobless claims fell to 207,000, a decrease of 16,000 from the previous week's unrevised level of 223,000. Economists had expected jobless claims to slip to 220,000.
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5 days ago
