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The widest measure of U.S. economic growth was revised lower on Wednesday, according to newly released figures, while separate reports showed consumer feelings remain good and employers continue adding jobs.
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New orders for long-lasting manufactured durable goods jumped more than expected in March, but analysts pointed to some concerns deeper in the Commerce Department report. Separate reports showed improvements in new homes sales as well as in consumer confidence.
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The U.S. economy didn’t expand as much as originally estimated in the final quarter of 2017, but it still turned in a solid performance, according to a new Commerce Department report, while a separate report on consumer confidence showed it was at its highest level in more than a decade.
Read More →A measure of the U.S. manufacturing sector released Thursday is just one in a raft of new economic reports that showed 2018 began with a similar pace to that seen when 2017 wrapped up.
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Consumers are feeling less upbeat, due to uncertainty about economic conditions following the tax overhaul recently signed into law, according to a new report. Meanwhile the level of new home construction last year was the best in a decade despite a December decline.
Read More →Uncertainty about tax reform was the likely culprit as a measure of consumer confidence retreated this month after hitting a 17-year high. However, expectations are the current quarter will show solid overall economic performance once more numbers start rolling in.
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Total U.S. economic activity in this year's third quarter increased more than originally estimated, according to revised numbers issued Wednesday by the Commerce Department.
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The widest measure of the health of the American economy was revised higher for the second quarter of the year, hitting its best pace in two years, while separate reports show hiring and consumers' feeling about the economy remain strong.
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Overall U.S. economic growth increased more in the third quarter of the year than first projected, according to a new Commerce Department report, and will likely pave the way for an interest rate hike in December.
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Retail sales in the U.S. posted a solid gain in September, indicating consumers remain confident about the economy – but a separate report revealed that certainty is being hit by the race for White House.
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