The US construction sector recorded an encouraging spending of $1.08 trillion, a 0.7 percent monthly growth, indicating a seven-year high. The July data from the US Commerce Department has not only boosted the market sentiment but also gave an indication of robust economic activity in the third quarter.
Tags: US economy
China to combine 40 entities to work on $22 billion plan-engine project
China, as part of a wider drive into progressive industries to boost its GDP growth, plans to combine over 40 entities to work on the giant $22 billion plane-engine project. Under the plan, the government of China along with companies like Aviation Industry Corp. would invest 35 billion yuan.
High employment rate propels German GDP
Record high employment rate and domestic spending propelled German GDP rate by 1.7 percent in 2015, according to the German authorities' calculation.
US Economy Holding Strong Despite Global Instability, But For How Long?
The US Labor Department has released a report outlining the growth of the US economy with a low unemployment rate and job growth. This growth puts pressure on the US because of the current instability in the rest of the world's economies.
6 tips to avoid over spending
Holiday occasions bring smiles and enthusiasm in thousands of people as they celebrate by exchanging gifts and inviting people for a feast. This sometimes can lead to overspending, thus making a household budget jeopardized.
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Slumping oil prices take its toll on the Canadian economy. Canada is now officially in a recession for the first time in six years, as crude prices plummet due to supply glut and falling global demand, particularly from China.
Although many believe that the US has started to lose its power and influence because of stagnating economy, a Financial Times report believes that compelling evidence abounds that refute this claim.
Employment, salaries, automotive and other industries grow after the sixteen day US government furlough.
A Reuters report said analysts did not see the US Federal Reserve making any dramatic policy changes any time soon.
American economist Lawrence Summers said policy makers should focus on growth strategies rather than debate on issues about the budget deficit.
With Congress working feverishly, the current budget impasse and the debt ceiling may become an economic superstorm.
According to an article for Reuters, the banks' notion of capital being the US economy's savior was a farce.
Populist movement Occupy Wall Street had marked its second anniversary through a planned march the United Nations office and a protest near the New York Stock Exchange.
Markit, a financial data company, said that the US factory activities increased by 53.9% which was its best rise since March.
