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The loonie is surging after Canada's big GDP surprise

The loonie is surging after Canada's big GDP surprise”

"This is a strong performance from the Canadian economy, not just in the second quarter but in the entire first half of the year".

The numbers show broad-based growth driven by household spending and exports, particularly in the energy sector.

This second estimate is much better than the first (+2.6 per cent), is higher than the expectations of analysts (2.7 per cent).

The figure was revised up by an unusually-large four tenths from the growth estimate published last month, due to higher consumer spending and business investment than in the initial report. This gives the USA its strongest quarter since 2015.

President Donald Trump's administration has set a goal of 3 percent economic growth for the year, but some economists have said that's unlikely. So far, Trump's economic agenda has not made it through Congress.

Sharad receives a formal letter indicating his expulsion from JD(U)
He said this rally will again prove that Lalu is the "only mass leader" in Bihar and his social support base is still intact. Recorded messages of Congress president Sonia Gandhi and her deputy Rahul Gandhi were played at the event.

The quarterly GDP increase came even though housing investments contracted at an annualized rate of 4.7 per cent during a period that saw the introduction of a new Ontario tax on foreign buyers in April.

The report also noted that profits in the second quarter went up 8.1% from this time a year ago. The fastest-growing large economy, China's, grew 6.7 percent a year ago. Even with the upward revision, the weak start to the year means that growth over the past six months has averaged 2.1 percent, the same modest pace seen for the recovery that began in mid-2009.

Gross domestic product grew at an annualized 4.5 percent, Statistics Canada said on Thursday, handily topping forecasts for 3.7 percent and making for the best pace of growth since the third quarter of 2011.

According to Market Watch, the last time the US saw two quarters of economic growth above 3 percent was in 2014.

"Even as we see daylight in today's economy, we find ourselves in the shadow of daunting longer-term challenges to economic growth and shared prosperity", said John Williams, president of the Federal Reserve Bank of San Francisco, in an August 2 speech.

QB Newton, WR Samuel to see first game action tonight
Will one quarterback play the first quarter with the starters and one play the second? "I kind of look at it the other way". Most of the Jaguars' players say they are comfortable with either Henne or Bortles as the starter for the regular season.

As it stands, traders think there's about a one-in-three chance of that happening.

The economists expect that the hurricane Harvey, which is now hitting Texas and Louisiana, weighs in on the economic growth.

Many economists had been forecasting growth in the current July-September quarter would be around 3 percent.

GDP grew 0.3% in June alone, with 14 of 20 industries seeing gains.

The U.S. economy rebounded sharply in the spring, growing at the fastest pace in more than two years amid brisk consumer spending on autos and other goods.

Thai immigration police chief says no information Yingluck has fled country
Thousands of supporters had massed outside the country's Supreme Court on Friday morning to witness the outcome of the trial. Yingluck's supporters were reportedly moved on throughout the week as they tried to set up a camp outside the court.

"Overall the USA economy and labor market remain in good shape, and will easily withstand any temporary drag from Harvey", Gus Faucher, chief economist at PNC Financial, wrote in a report on Wednesday.



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