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US Economy boosted in second Quarter

US Economy boosted in second Quarter

Sep 30,2015

The gross domestic product in US has risen from 3.7 to 3.9 during the second quarter. Stronger consumer spending and construction are claimed to be reasons. Making the US Economy to strong enough to with stand an increase in benchmark interest rates.

This positive trends are also giving hope for a further growth in third quarter, in spite of economists forecast of a slower pace. If the speech given by Mr. Fed Chair Jennet Yellien is any indication the growth will be strong enough to boost employment as long as the inflation is under check.

In spite of not much encouraging news such as Reuter’s poll saying that the growth rate may maintain a status quo of 3.7 only and the US. Stock index, data indicating a loss in Treasury debt prices and the US Dollars five week long low against the international currencies. But according to Mr Oubina the senior economist at RBC capital Market in New York, if the domestic economy holds in position, the expected growth is certain.

The consumer spending which is 2/3rd of  entire US economic activity rose from 3.1 to 3.6 %and the construction sector a record of 4.1% expansion are an indication for positive growth in spite of a slump in inventories growth contributing only 0.02 % than expected  at  0.22percent. A rebound of 2.6% against only 1.3 percent in tax corporate profits during the last month is an encouraging one. 

 

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