U.S. first-quarter GDP growth revised up to 1.4 percent
WASHINGTON, June 29 The U.S. economy slowed less sharply in the first quarter than initially estimated due to unexpectedly higher consumer spending and a bigger jump in exports.
BATON ROUGE, La. U.S. President-elect Donald Trump on Friday said that China and other countries often devalue their currencies as the U.S. economy improves, vowing to combat currency manipulation and the dumping of foreign products into U.S. markets below cost.
"We'll renegotiate our trade deals, stop the product dumping and the currency manipulation which is a disaster for our country," Trump said at a rally in Baton Rouge, Louisiana. "Every time we get going, China and others, they just knock the hell out of the value of their currency and we have to go back and back, and it just doesn't work, folks."
(Reporting by David Lawder; Editing by Jonathan Oatis)
WASHINGTON The U.S. economy slowed less sharply in the first quarter than initially estimated due to unexpectedly higher consumer spending and a jump in exports, beating expectations and providing a slightly more encouraging outlook for growth this year.
BENGALURU/LONDON Global stock market indexes are set for more gains by the end of this year, with notable optimism in the latest Reuters poll driven by an economic revival in Europe as well as bright prospects for much of Asia.