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US economy grows faster than expected, but business spending falls – business live

US economy grows faster than expected, but business spending falls



America’s economy grew at an annual rate of 1.9% in the last quarter, despite a worrying drop in investmentLatest: US GDP stronger than expectedGrowth dips to 1.9% in Q3 (annualised)Eurozone confidence falls againEIU sees recession fears in EuropeFrench economy grew by 0.3% in the last quarter 1.07pm GMT This won’t please the tech sector:Business investment in “computers and peripheral equipment” had it’s lowest contribution to U.S. GDP since the third quarter of 2001: pic.twitter.com/Mjvqg4Xx4bAnnotated GDP contribution analysis! pic.twitter.com/VZBcciRoY4 1.05pm GMT Several economists are encouraged that America’s economy grew faster than predicted in the last quarter — but disappointed that business investment has fallen again.Blogge Jeroen Blokland says the investment decline is ‘ugly’:The ugly part of today’s US #GDP growth number; nonresidential investment fell 3% (annualized) in Q3. pic.twitter.com/dPNfKZ2BFLToday’s GDP report confirms a business sector recession. Consumer will follow with a lag — as yesterday’s soft Conf Board survey revealed.Real GDP growth came in at 1.9% last quarter, abt the same as previous quarter, so a bit better than expected. However, there are signs of slowing the report. I find yr/yr growth more trend revealing and it shows clear signs of decelerating, from peak of 3 to 2 now. [thrd] pic.twitter.com/FfCqJC5pXxQ3 #GDP rises better than expected 1.9% as consumption rose a solid 2.9% after big 4.6% gain previously. Weakest part of economy is commercial construction, the result of tight money courtesy @federalreserve. Structures were down -15.3% vs -11.1% previously. This should reverse Continue reading…



Source link : https://www.theguardian.com/business/live/2019/oct/30/french-economy-growth-expectations-us-federal-reserve-powell-trump-pound-brexit-business-live

Author : Graeme Wearden

Publish date : 2019-10-30 13:07:35

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