United States President Barack Obama said on 1 August, although the United States economy is near bottom, but a few months to completely out of the recession. Obama also said that innovation will determine whether the prosperity of the United States, the economic prospects of the United States need to establish a newer, more solid economic fundamentals.
Obama revealed: statistics, year of the first few months, the United States economic recession than anyone expected, had several times near the edge of collapse.
He also stressed that the economic stimulus plan is successful, the new Government in the past few months performance far exceeded expectations, 7870 billion stimulus package delayed the United States economic recession velocity. Obama said that over the last few months has been in the United States economy investment decreased trend, and now economic investment has restored and stabilises, reflecting the economic recovery is in sight.
Although the extent to which the United States economic recession has been curbed, but to be completely out of the economic difficulties still need a few months time. Obama believes that: we still need to spend a few months time, will be able to completely get rid of the recession. He noted that the introduction of unemployment data this week will continue to rise, as long as the number of unemployed is also on the rise, the United States economy is hard to recover.
United States Department of Commerce announced on July 31, preliminary data show that the United States in the second quarter of this year, real gross domestic product (GDP) to calculate the atrophy 1.0% per annum, better than economists expected. Despite the economic situation has improved, but the United States employment market situation remains dire. United States Department of Commerce's report is expected to enterprises also will continue to lay off, but the unemployment rate will decline. 6 months, the United States unemployment 9.5 per cent, is 26 years the highest level. The Fed is expected to rise in the unemployment rate will be the end of this year to 10%.
Analysts believe that the second quarter of the GDP data showed that the United States the current round of the longest postwar economic recession is nearing completion. The Obama administration economic stimulus plan in effect in the second quarter. Economists expected, the effects of the plan in the second half of this year and 2010 will be even more evident. Many economists expected, the third quarter of the United States economy will return to growth, an increase of approximately 1.5%.
The International Monetary Fund (IMF) announced on July 31, said the report, United States in response to the financial crisis and the implementation of macro-economic policies in the financial markets and the economic situation stabilises. Report of the United States economy is expected to gradually recover, and maintain on the United States this year GDP will shrink 2.6% expected. IMF expects that the United States GDP in 2010 will increase 0.8%.
U.s. stocks July hot
United States stock market closing prices rise slightly on Friday, ending quotes hot in July. United States gross domestic product (GDP) data for slowing economic contraction appears, including General Electric, materials and industrial stocks affected high, United States Bank, bank stocks also continues to play it for as long as a week of steady rising trend.
July, all stocks are steadily higher. The Dow Jones industrial average stock price index last Friday closing up 17.15 point, point, rose to 9171.61 0.19%. The cumulative index for the month of July, rose up 724.61 point 8.58%. This is since October 2002, the biggest monthly rise, is since July 1989, the biggest increase in July. DJI cumulative rise 78.37 point last week, rose 0.86%.
Standard and poor's 500 index last Friday close up 0.73 point, point, rose to 987.48 0.07%; which material classification index up 0.9%, or maximum. Standard and poor's 500 index last week cumulative rise 8.22 point, rose 0.84%; last month up 68.16 points accumulated, rose 7.41%, for the fifth consecutive month high.
Three major indices in the month of July, the most powerful of the Nasdaq composite index fell on Friday close to 1978.50 5.8 point, point, or 0.29%. Last week the index up 12.54 points accumulated, rose 0.64%, July the index count up 143.46 point, rose 7.82%. The Nasdaq composite index over the past 5 months to accrued up 44%.
Performance reporting is the recent stock market continues to move up the main driving force, but the economic data but also played a role in the promotion. On Friday second-quarter GDP although it declined 1%, but better than expected. Economists expected downturn 1.5% before. The data boost popularity in the market, now seems to be United States investors believe the economic situation deteriorated speed slow-down.
GDP data for the promotion of industrial unit especially noticeable, General Electric, up 29 cents to $ 13.40, rose 2.2%. Caterpillar last month cumulative rise $ 11.02 33%, rose, is July best Dow Jones index shares. Caterpillar last Friday closing price 65 cents, to $ 44.06, rose 1.5%.
Material stocks also steady high last month, as investors anticipated economic growth in emerging markets, as well as the United States Government's stimulus measures will feast on inflation. This is expected to have in raw material prices and material was reflected in stock prices.
Last Friday the rising material stocks, Newmont up 1.54 $-$ 41.35, rose 3.9%; United States aluminum rose 30 cents, to $ 11.76, rose 2.6%.
Bank stocks become last week to promote the main stock index rising. United States Bank performance especially, 82 cents per unit, the weekend rose to $ 14.79 5.9%, rose.
However with the arrival of August, some investors start cautious. July rise too high, unsustainable, partly lingzhang stocks may be decreased.
Aston/Optimum Mid-Cap Fund's portfolio manager Thyra Zerhusen indicated that the future is bound to appear a certain level of inflation, but the short do not have to worry about that. United States economy is still in existence of overcapacity, which will soon rise in inflation.
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