Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Israeli strikes on Gaza as seen on social media

Read more

DEBATE

Africa's Newest Failed State: How to Stop Civil War and Famine in South Sudan? (part 2)

Read more

DEBATE

Israel and the Palestinians: How to Break the Cycle of Violence?

Read more

DEBATE

Africa's Newest Failed State: How to Stop Civil War and Famine in South Sudan?

Read more

AFRICA NEWS

Somalia : Al Shebab attack on presidential palace

Read more

FOCUS

Sharia law to be enshrined in British legal system?

Read more

ENCORE!

How a comedy dud became one of France's biggest box office hits

Read more

AFRICA NEWS

Kenya: Clashes at anti-government rally in Nairobi

Read more

WEB NEWS

ISIS leader challenged over expensive-looking wristwatch

Read more

  • Argentina beat the Netherlands on penalties to reach World Cup final

    Read more

  • Foiled French jihadist ‘targeted Louvre and Eiffel Tower’

    Read more

  • Obama in Texas to urge action on child migrant crisis

    Read more

  • Iraq’s heritage 'in danger' from ISIS militants

    Read more

  • Froome crashes out of Tour de France

    Read more

  • South Sudan independence heroes ‘have lost their way’

    Read more

  • Dozens of blindfolded bodies found south of Baghdad

    Read more

  • Israel pummels Gaza in retaliation for Hamas rocket attacks

    Read more

  • Alps Murder wife had ex-husband who died on same day

    Read more

  • Both candidates say they won Indonesian presidential election

    Read more

  • Brazil players should never wear 'sacred uniform' again, press says

    Read more

  • Exiled Syrian opposition elects new president

    Read more

  • China’s first Tour de France cyclist chases his dream

    Read more

  • Ukraine imposes new conditions on peace talks with pro-Russia rebels

    Read more

  • Sarkozy's UMP party 'almost €80 million in debt'

    Read more

  • Typhoon Neoguri turns deadly as it batters Japanese islands

    Read more

Americas

US economy exceeds forecasts with 1.7% growth in Q2

© afp

Text by News Wires

Latest update : 2013-07-31

The US economy grew 1.7% in the second quarter of 2013, well above the 1.1% GDP growth expected, according to a Commerce Department report released Wednesday. First quarter GDP figures were revised downward, however, to 1.1% from an initial 1.8%.

The US economy grew 1.7 percent in the second quarter but the pace was much weaker in the first quarter than thought, according to the Commerce Department report released Wednesday.

The second-quarter gross domestic product growth was well above the 1.1 percent pace estimated on average by analysts but remained sluggish.

The Commerce Department sharply revised the first-quarter GDP figure to 1.1 percent from the prior 1.8 percent reading.

Consumer spending, which accounts for two-thirds of US economic activity, slowed in the April-June period. Personal consumption expenditures increased only 1.8 percent after a 2.3 percent rise in the first three months of the year.

Exports provided a boost, jumping 5.4 percent and wiping out the prior quarter's 1.3 percent decline.

The drag caused by federal government spending and investment cuts narrowed, falling 1.5 percent after a more than 8 percent fall in the first quarter.

(AFP)

Date created : 2013-07-31

  • MARKETS

    Dow closes at record high as US home prices, confidence rise

    Read more

  • US ECONOMY

    US jobless rate falls to 7.5 percent in April

    Read more

  • USA

    Fed to maintain interest rates, cautious on recovery

    Read more

Comments

COMMENT(S)