President Trump’s main priority, well one of them, is of course the US economy. So how has it been performing? In between Tweets, shutdowns and scandals the US economy has actually responding well to the global upturn. Both GDP, jobs and most economic forecasts are looking fairly promising and are expected to continue. Judging by most economic reports across the world that is leading to enhanced optimism in other countries too, check out BBC reports – http://uktvabroad.org/.
The U.S. Economic sector grew at a good rate of 2.6 percent from the final 3 months of last year, aided by the fastest consumer spending since the spring of 2016 along with a large rebound in home construction. The Commerce Department says the 4th quarter advance from the gross domestic product, the country’s total output of services and goods, followed gains of 3.1 percent in the second quarter and 3.2 percent in the next quarter. The most recent downturn reflected a trade deficit and growth in stock rebuilding by businesses. For many of 2017, the economics grew 2.3 percent.
That’s a considerable improvement in the 1.5 percent gain in 2016, but little changed from the small 2.2
percent average growth rate turned in since the Great Recession ended. International growth, dollar, push orders for durable goods 2.9 pct. There are of course, some who point over to the European economies which in many cases are doing much better than the US economy. Global growth is also rising with demand being pushed from less developed countries recovering from the global recession. So it’s difficult to say if US economic growth is as a result of
Orders for long lasting manufactured goods rose 2.9 percent in December, the fastest rate since June and another indication of power for American industry, the Commerce Department said Friday. Orders were increased by a 15.9 percent spike in demand for airplane and aviation parts, which could bounce around from month to month. Excluding the volatile transport sector, orders increased by 0.6 percent in December.
Total orders for durable goods, that is good which are intended to last at least three decades, have climbed in four the last five months and were up 5.8 percent for the year 2017, the best in six decades. Still, a group that measures business investment, orders for non-defense capital goods excluding airplane, dipped 0.3 percent in December. American producers are benefiting from a pickup in global financial growth and weaker dollar, that makes U.S. Goods more affordable in overseas markets.
The Commerce Department upgraded the Nov increase in orders for durable goods to 1.7 percent from the 1.3 percent profit it initially reported. Orders for computers dropped 4.4 percent, second straight monthly decrease. Machinery orders rose 0.6 percent last month after being flat in November. Orders for automobiles, trucks and auto parts climbed 0.4 percent, decelerating after gains of 2 percent in Nov and 1.5 percent in October.