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Economy seen busting out with 4% GDP, but it won’t mean squat without an encore

“And it would put the economy on track to achieve 3% GDP for the full year” writes Jeffry Bartash for marketwatch.com. Gross domestic product — the official yardstick for the economy — likely grew 4% in the second quarter, economists polled by MarketWatch say.The big number in the report is a category that tracks U.S. business investment excluding the Pentagon and commercial aviation. Source: marketwatch.com Share This:

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Japan May all industry activity index +0.1% vs 0.0% m/m expected

“The data is often referred to as the monthly GDP reading, it’s a tracker production across all sectors of the Japanese economy and follows the GDP growth figures/trend” reports forexlive.com. Still not an encouraging sign that the Japanese economy is on solid ground right now in 2018. A minor data point though. Source: forexlive.com Share This:

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Strong U.S. retail sales brighten economic outlook

“The Commerce Department said on Monday retail sales increased 0.5 percent last month” writes Midwest Communications Inc for 95kqds.com. Excluding automobiles, gasoline, building materials and food services, retail sales were unchanged last month after an upwardly revised 0.8 percent increase in May.Forecasting firm Macroeconomic Advisers raised its April-June quarter GDP growth estimate to a 5.1 percent annualized rate from 4.9 percent.Economists had forecast retail sales rising 0.5 percent in June. Source: 95kqds.com Share This:

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China says its second-quarter GDP growth was 6.7%, meeting expectations

“China on Monday posted second-quarter GDP growth of 6.7 percent from a year ago, slightly lower than 6.8 percent in the first quarter of 2018 as Beijing has been cracking down on risky credit amid escalating trade tensions with the U.S. The official reading was in line with expectations from analysts polled by Reuters” writes Huileng Tan for cnbc.com. The headline figure was no surprise as any impact from current U.S.-China trade scuffles will only factor in the second half of the year, said Fraser Howie, an independent analyst.There may…

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Trump’s False Claims at NATO

“At the NATO summit in Brussels, President Donald Trump made several false statements about the defense spending of the member countries” writes Eugene Kiely for factcheck.org. In constant 2010 U.S. dollars, NATO Europe and Canada increased their defense spending by $14 billion, or 5 percent, from 2014 to 2016, as the chart below shows. And the national plans are a very valuable tool to make sure that we deliver, and that we increase defense spending substantially.” Trump repeated several other inaccurate claims that we have written about before.As shown in…

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Trump urges NATO members to double its military spending to 4% of their GDP

“NATO Secretary-General Jens Stoltenberg chairs a NATO defense ministers meeting at the Alliance headquarters in Brussels, Belgium” writes Robin Emmott for businessinsider.com. Having chided NATO members for failing to reach a target of spending 2 percent of national income on defense, Trump told fellow leaders on Wednesday he would prefer a goal of 4 percent, similar to US levels, officials said. Source: businessinsider.com Share This:

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Trump tells NATO leaders to up military spending to 4 percent of GDP 

“U.S. President Donald Trump told NATO leaders on Wednesday they should increase their defence spending to 4 percent of their country’s economic output, double the group’s current goal of two percent” writes Marlene Awaad for cnbc.com. The United States, the world’s biggest military power, spent some 3.57 percent on defence last year, according to NATO figures.”He suggested that countries not only meet their commitment of 2 percent of their GDP on defence spending, but that they increase it to 4 percent,” Sarah Sanders told reporters.Striking a strident tone at the…

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UK economy warms up after the winter freeze

“The UK economy has started warming up after a winter freeze as activity in the services sector ticked up, compensating for a weaker performance in manufacturing” writes Chris Gubbey for telegraph.co.uk. In its first estimate of monthly GDP growth the Office for National Statistics revealed that the economy reached a virtual standstill in March, at 0pc growth, and then recovered in April and May, hitting 0.2pc and 0.3pc respectively.The services sector, which makes up more than three-quarters of GDP, grew by 0.4pc, the ONS said.This drove the three-month rolling estimate…

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6 maps showing the unemployment rate, GDP, and wage growth in every state paint a clear picture of the American economy right now

“We recently ranked the economies of all 50 states and DC based on six economic measures: unemployment rate, job growth, GDP per capita, GDP growth, average wages, and wage growth” writes Andy Kiersz for businessinsider.com. Looking at all of these measures together, as we did in our ranking, gives a clearer picture of economic conditions across America.Some places, like Washington state and the District of Columbia, performed very well across several of those measures, and their overall economic situation is strong. Source: businessinsider.com Share This:

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