Address

Precise Investors

Trading

US durable goods, trade boost forecast

Shipments of key US-made capital goods increased in June for a fifth straight month, suggesting that business spending on equipment helped to boost economic growth in the second quarter. Signs that the economy gathered speed in the last quarter were also bolstered by other data on Thursday showing a sharp narrowing in the goods trade deficit in June and increases in both retail and wholesale inventories.

The bullish reports came on the eve of the government’s advance second-quarter gross domestic product estimate on Friday, prompting economists to raise their forecasts to as high as a 3.5 per cent annualised rate. The economy grew at a 1.4 per cent pace in the first quarter.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Leave a Reply

fourteen + fifteen =