Economic activity in the United States expanded at a 4.1% rate in the second quarter, more than roughly doubling Q1’s pace, according to today’s preliminary report from the Bureau of Economic Analysis. The acceleration marks the strongest gain for real gross domestic product (GDP) since 2014.
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Today’s second-quarter GDP report is expected to deliver upbeat news about the US economy. Wobbly housing data may be telling a different story. It’s premature to assume the worst, but the weak year-over-year trends in several housing indicators suggest that today’s Q2 snapshot should be used cautiously as a guide to managing expectations for the near-term future.
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Trump threatens sanctions on Turkey for detained pastor: NY Times
US Q2 GDP estimates trimmed after data updates on Thursday: WSJ
Trump says today’s Q2 GDP report will show US economy in “terrific” shape: BBG
ECB, voicing concerns about trade, keeps rates at record lows: MW
US trade deficit widened in June: MW
China appears to have erred in thinking Trump was bluffing on trade: SCMP
Facebook shares collapse 19%, among biggest 1-day stock declines ever: NY Times
Amazon profit surges, far surpassing estimates: LA Times
Jobless claims in US rose last week, but still close to historic low: Reuters
KC Fed Mfg Index points to strong activity in July: Bond Buyer
US durable goods orders up 1% in June, first rise in 3 months: MW