Second-quarter GDP trimmed to 2% from 2.1%; companies cut spending, boost profits

The numbers: The U.S. economy grew a touch slower in the spring than initially reported owing to declining exports and weak corporate investment, but companies managed to post a sizable increase in profits even as their business outlook dimmed.

Higher consumer outlays helped businesses churn out the first increase in profits in three quarters. Adjusted pretax corporate profits jumped 5.3%. The decline in exports, meanwhile, was revised to 5.8% from 5.2%. The ongoing trade fight with China, a slowing global economy and a strong dollar have combined to hurt U.S. exports.State and local spending also grew a bit more slowly than initially reported.

where is the famous 4% of trump

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Amazon Is The Second Company To Report Tesla Solar Panel FireAmazon is the 2nd company to report Tesla solar panel fires by rachsandl rachsandl Lol short rachsandl Do you support new ideas?
Source: Forbes - 🏆 394. / 53 Read more »

Tiffany Misses Second-Quarter Sales Estimates, But Beats on EarningsA strong dollar, the diminishing spending power of tourists visiting the U.S. and continued unrest in Hong Kong are all weighing on Tiffany & Co. What’s the matter with a strong USD? So everyone should travel here and take advantage of economic misfortunes? With the Euro, it’s a wonder how they survive. 😂
Source: wwd - 🏆 24. / 68 Read more »