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Other Industry News > General Economic News
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Canada's GDP advanced in May
Canada's real gross domestic product rose 0.4% in May, a fifth consecutive monthly increase, according to Statistics Canada. The output of service industries grew 0.4% in May, as most major industrial subsectors posted growth. For more, click here...
U.S. Q2 economic growth pegged at 4.0%
U.S. output of goods and services grew at an annual rate of 4.0% in the second quarter, according to the advance estimate from the Bureau of Economic Analysis. In the first quarter, gross domestic product declined a revised 2.1%. The bureau emphasized that its advance estimate is based on source data that are incomplete or subject to further revision. The increase in real GDP in the second quarter primarily reflected positive contributions from personal consumption expenditures, private inventory investment, exports, non-residential fixed investment, state and local government spending, and fixed residential investment. For more, click here...
Conference Board Consumer Confidence Index rises
The Conference Board Consumer Confidence Index was at a reading of 90.9 in July, up from 86.4 in June. "Consumer confidence increased for the third consecutive month and is now at its highest level since October 2007," said Lynn Franco, director of economic indicators at the Conference Board. "Strong job growth helped boost consumers' assessment of current conditions, while brighter short-term outlooks for the economy and jobs, and to a lesser extent personal income, drove the gain in expectations." For more, click here...
U.S. Consumer Price Index rose 0.3% in June
The Consumer Price Index increased 0.3% in June on a seasonally adjusted basis, according to the U.S. Bureau of Labor Statistics. Over the last 12 months, the all-items index increased 2.1% before seasonal adjustment. The June increase was driven primarily by higher gasoline prices. For more, click here...
May construction spending edges upward
Construction spending in May was estimated at a seasonally adjusted annual rate of $956.1 billion, 0.1% higher than the revised April estimate and 6.6% above the May 2013 figure, according to the Census Bureau. Residential construction was at a SAAR of $354.8 billion in May, 1.5% below the April estimate. For more, click here...
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