Toronto billionaire couple found dead at their home
Armed Assailant Shot at Amsterdam Airport
Facebook's Snooze button silences your annoying friends for 30 days
Mayor: Explosion Was Attempted Terror Attack
NYC Bomber Benefitted From US Visa Lottery Program
US GDP rebound fails to ignite dollar spark
29 July 2017, 12:56 | Lionel James
Many economists expect the central bank will wait until October so as not to shock the economy with a rapid rise in borrowing costs, given the recent rise in the Canadian dollar which makes exporters less competitive. President Donald Trump had set an ambitious 3.0 percent growth target for 2017.
Friday's number is just the first estimate on second quarter GDP growth. Two and half percent is not great, but it's not bad, and it is a full point above average economic growth during the Obama administration and half a point above the "Obama recovery" era.
The faster pace of expansion was driven by 2.8 per cent annual growth in consumer spending, up from a 1.1 per cent rate of growth in the first quarter. Economists had expected the Q2 figure to be closer to 2.7%.
The GDP deflator came in at 1.0% from 2.0% previously and below expectations of a 1.3% increase. That was an acceleration from the 1.9 percent pace logged in the first quarter.
Growth was held back by the housing market, though.
The revisions made minor changes to economic history, putting growth at 2.6 percent in 2014, up from 2.4 percent.
Wolfenstein II: The New Colossus Gets New Trailer In The New Colossus you have to fight the Nazis in Roswell, New Mexico, a flooded New Orleans and a post-nuclear Manhattan. Called The Freedom Chronicles , players will have access to three separate missions with three brand new characters.
The Canadian dollar added to gains against the greenback immediately after the report, while traders increased their bets of another interest rate hike from the Bank of Canada, which earlier this month raised rates for the first time in almost seven years.
Specifically, final sales to private domestic purchasers q/q rose 2.7% in 2Q after rising 3.1% prior quarter. Output increased 2.6%, which matched Econoday.com's consensus forecast.
Inflation slowed to an annual rate of 0.3% in the second quarter from 2.2% in the first, as measured by the personal-consumption expenditures price index, or PCE.
Businesses continued to carefully manage their inventories in the second quarter but spent more in some places.
Growth was buoyed by investment from sectors like information technology and oil and gas, which is finally reinvesting in new infrastructure as global oil prices recover from previous lows, said Charles Seville, senior director at Fitch Ratings. Nonresidential fixed investment increased by 5.2 percent in the second quarter, extending the 7.2 percent growth rate from the first quarter.
JNU VC wants a tank on campus.What the hell?
People who stay in extreme conditions and risk their lives should be given all the rights to take extreme decisions... Pradhan said he was surprised by the change in JNU, where slogans like Bharat Mata ki Jai were now being raised.
Amazon might have a job for you in Oklahoma City
Amazon Wednesday announced it has more than 50,000 roles available to fill across its USA fulfillment network. Amazon said in January that it planned to add another 100,000 full-time jobs in the U.S.by mid-2018.
Jailed Volkswagen exec to plead guilty in USA diesel scandal
The information was revealed by court spokesman David Ashenfelter, while Schmidt's lawyer, David DuMouchel, declined to comment. A Volkswagen AG compliance executive charged in the company's emissions-cheating scandal is preparing to plead guilty .
Justin Bieber Rams Into Paparazzi
A 57-year-old photog, standing by the passenger side of the truck, wound up getting hit as Bieber tried to leave. Beverly Hills Police believe the crash was unintentional, the Los Angeles Times reported Wednesday.
Ed Sheeran, Alt-J, The xx Nominated for 2017 Mercury Prize
Ed Sheeran's ÷ enjoyed incredible commercial success in 2017 but the Mercury Prize is famous for ignoring such achievements. Lesser know artists whose albums were nominated include Sampha، J Hus، Loyle Carner، Dinosaur and The Big Moon.
Samsung C&T's Q2 OP up 44 percent on year
Samsung Electronics said it expected the memory chip boom to continue in the current quarter. The company revealed an operating profit of 14.1 trillion South Korean won ($12.67 billion).
Trail Blazers Trade Allen Crabbe to Nets
McCollum ($24 million) and Evan Turner ($17 million) on the books, the Blazers are in a position where they need to shed salary. Crabbe, according to Wojnarowski , agreed to waive the trade kicker, which lessens the salary burden on Brooklyn.
Survivor of deadly crash blames social media
Shortly after filming stopped, it resumed again, this time showing her sister lying in a field with obvious head trauma. The CHP says Sanchez was under the influence when she rolled her auto over, into a barbed wire fence and then a field.