The government’s estimate of growth in the second quarter — its last of three — was up from its previous estimate of a 6.6% annual pace that will likely mark a high point for the economy’s expansion this year as the virus slows some activity, government support programs wind down and manufacturing supply-chain issues persist.
Thursday’s report from the government showed that the nation’s gross domestic product — its total output of goods and services — accelerated from a 6.3% annual rate in the first three months of the year.
A key factor in the upgraded growth estimate for the April-June quarter was a slightly higher level of consumer spending, which accounts for roughly 70% of economic activity. Consumer spending grew at a 12% annual rate, the fastest expansion since a surge in the third quarter last year when the economy began to re-open.
Stronger export sales also added to the increased growth estimate for the second quarter. Exports rose at an annual rate of 7.6% after having fallen in the first quarter. Business equipment investment was also up from the government’s previous estimate, expanding at a solid 12.3% rate.
These gains were partly offset by a sharper increase in imports, which subtract from economic growth. Imports rose at a 7.1% annual rate in the second quarter.
The report showed that an inflation measure tied to GDP that excludes volatile energy and food costs rose 3.4% over the past year. That is the fastest such pace since 1991 and well above the Fed’s 2% goal for annual inflation.
ãã®èšäºã¯ Techlife News ã® Techlife News #518 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã8,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã ?  ãµã€ã³ã€ã³
ãã®èšäºã¯ Techlife News ã® Techlife News #518 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã8,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã? ãµã€ã³ã€ã³
Apple Set to Unveil New iPads at
Apple Inc. has officially announced its upcoming âLet Looseâ event scheduled for May 7, signaling a significant showcase of new hardware, specifically focusing on the iPad line.
META UNDER FIRE FROM EUROPEAN UNION FOR NOT DOING ENOUGH ABOUT ELECTION DISINFORMATION
The European Union said this week that itâs investigating Facebook and Instagram for suspected violations of the blocâs digital rulebook, including not doing enough to protect users from foreign disinformation ahead of EU-wide elections.
SCAMMERS STOLE MORE THAN $3.4 BILLION FROM OLDER AMERICANS LAST YEAR, AN FBI REPORT SAYS
Scammers stole more than $3.4 billion from older Americans last year, according to an FBI report released this week that shows a rise in losses through increasingly sophisticated criminal tactics to trick the vulnerable into giving up their life savings.
THE TIKTOK LAW KICKS OFF A NEW SHOWDOWN BETWEEN BEIJING AND WASHINGTON.WHAT'S COMING NEXT?
TikTok is gearing up for a legal fight against a U.S. law that would force the social media platform to break ties with its China-based parent company, a move almost certainly backed by Chinese authorities as the bitter U.S.China rivalry threatens the future of a wildly popular way for young people in America to connect online.
LAWMAKERS AND ADVOCATES MAKE LAST-DITCH PUSH TO EXTEND AFFORDABLE INTERNET SUBSIDY
Twenty-three million families in the U.S. will have bigger internet bills starting in May. Thatâs because a federal broadband subsidy program theyâre enrolled in is nearly out of money.
SAMSUNG REPORTS A 10-FOLD INCREASE IN PROFIT AS AI DRIVES REBOUND IN MEMORY CHIP MARKETS
Samsung Electronics reported this week a 10fold increase in operating profit for the last quarter as the expansion of artificial intelligence technologies drives a rebound in the markets for computer memory chips.
ELIMINATION OF TESLA'S CHARGING DEPARTMENT RAISES WORRIES AS EVS FROM OTHER AUTOMAKERS JOIN NETWORK
Elon Muskâs move to lay off the department responsible for Teslaâs electric vehicle chargers has touched off worries in the auto industry that EVs from other automakers will have trouble joining Teslaâs network.
AMAZON REPORTS STRONG 1Q RESULTS DRIVEN BY ITS CLOUD-COMPUTING UNIT AND PRIME VIDEO AD DOLLARS
Amazon reported this week strong results for the first quarter, driven by growth in its cloud computing unit and new advertising dollars from its Prime Video streaming service.
FCC FINES WIRELESS CARRIERS FOR SHARING USER LOCATIONS WITHOUT CONSENT
The Federal Communications Commission has leveraged nearly $200 million in fines against wireless carriers AT&T, Sprint, T-Mobile and Verizon for illegally sharing customers' location data without their consent.
JOURNALISTS CRITICAL OF THEIR OWN COMPANIES CAUSE HEADACHES FOR NEWS ORGANIZATIONS
This spring, NBC News, The New York Times and National Public Radio have each dealt with turmoil for essentially the same reason: journalists taking the critical gaze they deploy to cover the world and turning it inward at their own employers.