Discussing government contributions to GDP, which are slightly higher, with Jim Pethokoukis, American Enterprise Institute.» Read More
Western critics say China is experiencing a hard landing, but that's not quite true, says Dan Steinbock.
WASHINGTON, Aug 28- The U.S. economy rebounded more strongly than initially thought in the second quarter with a bigger chunk of the growth driven by domestic demand in a bright sign for the future. Gross domestic product expanded at a 4.2 percent annual rate instead of the previously reported 4.0 percent pace, the Commerce Department said on Thursday.
CNBC's Steve Liesman looks at how today's GDP report changed the forecast for the third quarter.
*Escalation of Ukraine tensions pushes up yen, Swiss franc. NEW YORK, Aug 28- The dollar got a lift from better-than-expected U.S. growth data on Thursday as the euro fell amid reawakened investors' worries about a serious escalation in tensions between Ukraine and Russia.
To be sure, it's been a long slog back from the Great Recession, and the recovery isn't about to break any historical records.
CNBC's Steve Liesman discusses revised Q2 GDP of 4.2 percent, and what weekly jobless claims of 298,000 says about the economic recovery. He says weather does not explain what happened in the first quarter.
WASHINGTON, Aug 28- The U.S. economy rebounded more strongly than initially thought in the second quarter and details of a report on Thursday pointed to sustainable underlying strength.
U.S. jobless claims slid below the critical 300,000 level, and the economy grew at a quicker pace than estimated last quarter.
US TREASURY YIELDS RISE SLIGHTLY AFTER JOBLESS CLAIMS, GDP DATA.
CNBC's Rick Santelli reports revised Q2 GDP resulted in 4.2 percent, and weekly jobless claims came in at 298,000.
Do consumers care about GDP data? Drew Matus, UBS deputy chief U.S. economist, and CNBC's Steve Liesman, share their opinions.
Kobsak Pootrakool, Executive Vice President at Bangkok Bank, explains why he is confident that Thailand can see better economic growth by year-end.
The Philippine economy grew an annual 6.4 percent in the second quarter, supported by strong growth in the industrial and services sectors.
CORRECTED-CBO ESTIMATES 1.5 PCT U.S.
DEFICIT AT $469 BLN, OR 2.6 PCT OF GDP, FY 2016 DEFICIT AT $556 BILLION, OR 2.9 PCT OF GDP.
DEFICIT TO REACH 2.9 PCT OF GROSS DOMESTIC PRODUCT VS PREVIOUS ESTIMATE OF 2.8 PCT- CBO.
JERUSALEM, Aug 27- The Bank of Israel warned the government on Wednesday that the budget deficit would reach at least 3.5 percent of gross domestic product in 2015 if taxes aren't raised and state spending is not reduced.
After two consecutive years of sub-5 percent growth, India's economy looks to have snapped out of its funk in the April-June quarter.
TOKYO, Aug 26- The Bank of Japan is likely to keep its bullish inflation outlook even as it cuts its economic growth forecast for this fiscal year in an October report, sources said, suggesting that the bank will not ease policy further at least until the end of 2014..