According to the GDPNow model of the Federal Reserve Bank of Atlantathe US economy is expected to grow at an annualized rate of 2.6% in the third quarter, down from 1.6% in the previous estimate. “Following the release of this morning’s construction spending from the US Census Bureau and this morning’s manufacturing ISM business report […]
Tag: GDP
Italian GDP growth in the 2nd quarter was revised upwards to 1.1%
Italy’s economy grew by 1.1 percent in the second quarter from a year earlier on strong domestic demand, national statistics agency ISTAT said on Thursday. It is recalled that in the preliminary estimate, GDP growth was measured at 1% on a quarterly basis. On an annual basis, second quarter GDP was correspondingly revised to +4.7% […]
Spread and fiscal data rewrite the TIF package
Of Tasos Dasopoulos The overperformance of the economy for the two months of July and August, as reflected in tax revenues, but also the GDP of the second quarter, which will be published next Wednesday by ELSTAT, will be the basis for the finalization of the measures announced by the Prime Minister, from TEF. The […]
GBP/USD hovers around 1.1800 after mixed US data, awaiting Powell’s speech
GBP/USD fluctuates throughout the day, with traders waiting for Powell’s comment on the matter. US growth in the second quarter improved but remains below the 0% threshold; a recession is looming in the US Money market futures expect the Bank of England to raise rates by 250 basis points by May 2023. The GBP/USD rose […]
USD/CAD falls below 1.2950 on USD weakness ahead of Powell’s speech
USD/CAD was down 0.15% on Thursday as market traders brace for further hawkish rhetoric from the Fed. The US GDP figure for the second quarter, although better than expected, remains in recession territory. USD/CAD Price Analysis: Traders Regain 1.3000 to Open Door to Test All-Time Highs; otherwise a drop to 1.2800 is possible. The USD/CAD […]
GBP/USD trims its intraday gains and pulls back to the 11820-15 area
GBP/USD finds fresh supply at higher levels amid a modest pickup in USD demand. Mostly upbeat US data, high US bond yields and aggressive Federal Reserve expectations support the dollar. The gloomy economic outlook for the UK acts as a headwind for the British pound and favors bearish traders. The pair GBP/USD struggles to take […]
US: Smaller contraction of GDP in the second quarter compared to the initial estimate
LAST UPDATE 16:00 The US economy contracted in the second quarter at a slower pace than initially estimated as consumer spending proved strong, the US Commerce Department said in its second reading. In particular, GDP shrank by 0.6% in the previous quarter, instead of the previously reported 0.9%. The economy had contracted by 1.6% in […]
The Japanese government maintains the view that the economy is gradually improving
In its monthly financial reportthe government of Japan maintained the view that its economy is “moderately picking up”while raising the prospects for factory output. Key points “The economy is picking up moderately.” “It is expected to pick up in the future, as we are willing to take all possible measures to avoid infections as socioeconomic […]
Eurozone: Preliminary GDP for the second quarter grows 3.9% annually, but below the 4% expected
The Preliminary Gross Domestic Product (GDP) of the euro zone for the second quarter of the year stood at 3.9%, below the 5.4% of the first quarter and the 4% estimated by the market consensus. Although this is the fifth consecutive quarter with positive economic growth for the region, the one published today is the […]
US: Atlanta Fed GDP for the third quarter falls to 1.8%
According to the model GDPNow from the Federal Reserve Bank of Atlantathe US economy is expected to grow at an annualized rate of 1.8% in the third quarter, down from 2.5% in the previous estimate. “Following recent releases from the US Treasury Department’s Office of the Fiscal Service, the US Bureau of Labor Statistics, the […]