"Unexpected" weakness and downward revisions are hallmarks of the beginnings of recessions. And so it it with durable goods. Economists had forecast a gain, instead there was a 1.6% drop. Moreover July was revised lower as well.
Groupon Inc's fourth quarter got off to a strong start in October as the largest daily deal company's growth outpaced that of its closest rival, LivingSocial, industry data tracker Yipit said on Thursday. ...
China's economic slowdown is hitting profits at more foreign companies, a survey by an American business lobby showed, while the vast majority of respondents believed China's growth in 2016 would fall short of the central bank's forecast. The number of foreign companies rating their business profitable dropped to a five-year low in 2015, while 45 percent of about 500 respondents in the American Chamber of Commerce in China's annual survey reported that revenues in 2015 were down or remained flat from a year earlier.
The economy grew more than previously estimated in the second quarter on bigger gains in consumer and business spending that show the U.S. expansion got back on track. A surge in inventories also signals such strong growth will be difficult to sustain in the short run.
Gross domestic product, the value of all goods and services produced, rose at a 3.7 per cent annualized rate, exceeding all estimates of economists surveyed by Bloomberg and up from the 2.3 per cent the Commerce Department reported last month, figures showed Thursday in Washington.
By John Helzer:Below I have plotted the World Wide Semiconductor Billings(data from SIA) vs. the S&P 500. As one would expect they correlate fairly well.The arrows are the Economic Cycle Research Institute' public announcements on the business cycle's turning points.
SAN FRANCISCO (Reuters) - Amazon.com Inc's first quarterly net loss in more than five years on Thursday highlights the trials of LivingSocial, Groupon Inc's closest rival in the daily deal industry. Amazon said its third-quarter net loss was $274 million, or 60 cents a share. The world's largest Internet retailer said $169 million of those losses were driven by an impairment charge from Amazon's 29 percent stake in LivingSocial. Amazon invested $175 million in LivingSocial in late 2010, at the height of the daily deal frenzy when sector leader Groupon was growing at record speed. ...