Archive for the ‘Urge’ tag
Preview: Second Quarter GDP Expected to Post 2.3% Growth
The consensus forecast expects U.S. GDP growth to
come in quite a bit better than the two previous quarters, as exports
have surged on the weak dollar and the fiscal stimulus package has
provided a boost to consumption.
The advance Q2 GDP report is expected to show growth of 2.3% in
Thursday’s report from the Bureau of Economic Analysis, a significant
advance following 1.0% growth in Q1 and a dismal 0.6% rate in the final
quarter of 2007. However, forecasts are abnormally wide for the report,
ranging from 0.9% to 4.2%.
U.S. June Core CPI Up 0.3% as Total Inflation Surges 1.1%
The seasonally adjusted U.S. Consumer Price Index
rose more than expected on both fronts, as the core rate ticked up 0.3%
(0.323%) in June, contributing to a 2.4% year-over-year change, and total
inflation rose 1.1% (1.056%) in the month and 5.0% on the year, according
to data released by the U.S. Labor Department on Wednesday.
U.S. June Nonfarm Payrolls Decline 62k, Unemployment Rate Remains at 5.5%
U.S. nonfarm payrolls declined for the sixth straight
month, falling in line with expectations by a total of 62k jobs in June,
according to the Bureau of Labor Statistics on Thursday. May’s jobs
figure was revised to a loss of 62k jobs from an initially reported loss
of 49k jobs.
The unemployment rate remained at 5.5% following the half-percentage
point surge in the rate last month.