Real U.S. GDP Up 3.3% in Q3/17
Real gross domestic product increased at an annual rate of 3.3% in Q3/17 according to the Bureau of Economic Analysis.
December 26, 2017 BEA | Bureau of Economic Analysis | GDP Amanda Koprowski
Real gross domestic product increased at an annual rate of 3.3% in Q3/17 according to the Bureau of Economic Analysis.
According to a Bank of America survey, small business owners are optimistic their year-end revenue will surpass 2016 as confidence in the economy has surged on expectation that economy will improve in the year ahead.
According to commentary that appeared in the Lombardi Letter, an economic recession is likely should meaningful C&I lending continue to be stalled.
The Federal Reserve raised the federal funds rate to a target range of 1% to 1.25%, marking the second increase in the rate in the last three months.
Reuters reported that the recent decline of U.S. bank stocks has been particularly unkind to regional banks, and that’s not likely to change soon as hopes dim for higher long-term interest rates and timely policy relief from Washington.
According to the annual Business Pulse Survey by SunTrust Banks, nearly two-thirds of business leaders expect the global and U.S. economy to improve through 2017. Leaders have high expectations for healthcare and tax reform to spur growth.
The Wall Street Journal reported that the rising dollar is thwarting the plans of U.S. manufacturers that export goods.
In light of strong job growth and increased economic activity, the Federal Open Market Committee voted to raise the target range for federal funds rate a quarter of a percentage point with three more increases planned for 2017.
New orders for manufactured durable goods in August remained virtually unchanged, decreasing just $100 million to $226.9 billion, according to the latest report from the U.S. Census Bureau.
The FOMC decided at its most recent meeting to maintain the target range for the fed funds rate at 1/4 to 1/2%. The committee noted household spending has been growing strongly, but business fixed investment remained soft.