The economy grew more than previously estimated in the second quarter on bigger gains in consumer and business spending that show the U.S. expansion got back on track. A surge in inventories also signals such strong growth will be difficult to sustain in the short run. Gross domestic product, the value of all goods and services produced, rose at a 3.7 percent annualized rate, exceeding all estimates of economists surveyed
It makes sense to be informed by the full range of possibilities that history and human nature suggest are in play.
China’s richest man said on Thursday the government needs to give up any “fantasy” of maintaining high economic growth rates, unusually bold comments at a time when Beijing is grappling to contain a market meltdown that has hammered global equities. Billionaire Wang Jianlin, speaking after his company Dalian Wanda Group said it had bought World Triathlon Corp (WTC) for $650 million, added that the key was whether economic growth is
Oil prices jumped more than 4.5 percent on Thursday after a rally in equity markets and an unexpected fall in U.S. crude inventories, but worries over the Chinese economy and a global oil glut kept the outlook uncertain.
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