Us Consumer Spending Good Growth In Q2.
The growth of the us economy do akselarasi in the second quarter (Q2) supported a solid consumer spending, offsetting weak business expenditure depreciation for equipment. This indicates a stable momentum could push the Federal Reserve is more likely to raise rates this year.
Gross domestic product (GDP) grew at an annual rate of 2.3 percent, said the Ministry of Commerce on Thursday (Friday GMT). The first-quarter GDP, which was previously reported to have shrunk at a rate of 0.2 percent, revised rises to the level of 0.6 percent.
"This is a very constructive report and supported the domestic economy background support, we expect the positive momentum continued in the coming months, supporting the necessary justification for the Fed to raise rates this year-probably in early September," said Millan Mulraine, Deputy Chief Economist at TD Securities, New York.
The revised first quarter growth is reflected in the steps taken to improve the Government's seasonal adjustments for a number of components of GDP.
The report also showed an increase in inflation in the quarter, the economists pointed out keeping the Fed is on track to raise rates first since 2006.
The US Central Bank on Wednesday described the economy increased moderately while upgrading his views about the market power and said the housing sector has shown improvement. https://www.mql5.com/en/signals/120434
