US Q3 economic growth revised down to 2%
The downward revision in the economy was led by a smaller increase in inventories than previously forecast while weak external demand and a strong dollar also weighed on the economy. Trading activities subtracted 0.3% from overall growth following a 0.2% contribution in the previous quarter. Inventories, meanwhile, subtracted 0.7% from growth compared with a previous estimate of 0.6%. Household spending, meanwhile, remained stable at an earlier estimate of a 3% gain on an annual basis.
In the first half of this year, the US economy grew around 2.3% after expanding by 2.4% in 2014.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Shipping costs show no sign of abating yet
- PP, PE gains extend into April but demand slips further in Africa
- Triple-digit hikes send Europe’s PP market to fresh all-time highs
- Turkey’s PET markets extend drops into April, pervaded by weak demand
- US PVC offers resurface at competitive levels in Egypt, Turkey
- China import PE prices extend losses into April on lower costs
- Bullish price environment continues in Egypt’s PP, PE markets
- Unexpected plant shutdown fails to cease local PP downturn in Indonesia
- Export PVC prices out of China provide competitive edge
- European PP, PE set for 6th bullish month, is peak near?