Articles Tagged with ''Commerce Department''

U.S. economy rebounds, exceeding market expectations

Economy grew 3.2% in the first quarter, signaling strong start to 2019
Gross Domestic Product reversed its course in in the first quarter of 2019, according to the advanced estimate from the Bureau of Economic Analysis. Mortgage Bankers Association Chief Economist Mike Fratantoni said although this advance estimate is subject to revision, if it holds up, this faster growth should continue to provide strong support for the job and housing markets.
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Another sign of a slowing economy: GDP growth is revised downward

Economy grew just 2.2% in the fourth quarter, revealing slow start to 2019
Gross domestic product grew 2.2% in the fourth quarter of 2018, coming in less than the estimated 2.6% and serving as yet another sign of a looming economic slowdown. This is also less than the third quarter's GDP growth, which totaled 3.4%, according to the latest data from the Bureau of Economic Analysis.
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The GDP loses momentum

Especially in the fourth quarter
The GDP, the value of everything a nation produces, showed a significant markdown this fourth quarter compared to the 3.9% increase last spring, according to Market Watch. The economy expanded at a 2.4% clip last year, the same as in 2014, the Commerce Department said. The U.S. hasn’t topped 3% growth since 2005.
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New home sales fell 7% in December

Market inventory reaches a 5-month supply
New home sales maintained a downward trajectory in December, falling 7% below November’s revised rate of 445,000 unit sales to a seasonally adjusted annual rate of 414,000 units. But this is still 4.5% above year earlier levels.
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Americans still stingy, especially on building materials

The US consumer is not ready to splurge just yet
U.S. consumers continue to hold back on their spending. While they are acquiring some big ticket items, other products such as building materials, clothing and sporting goods are not in high demand.
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