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Other Industry News > General Economic News
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Consumer sentiment hits nine-month low
The Thomson Reuters/University of Michigan preliminary index of consumer confidence was at a reading of 79.2 in August, its lowest level since last November. Analysts attributed the decline to consumers' concerns that household income would not keep pace with rising prices. For more, click here...
June construction spending dips
U.S. construction spending during June was estimated at a seasonally adjusted annual rate of $950.2 billion, 1.8% below the revised May estimate but 5.5% above the June 2013 figure, according to the Census Bureau. Residential construction was at a SAAR of $355.9 billion in June, 0.3% below the revised May estimate. 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...
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