Tina FX
0
All posts from Tina FX
Tina FX in Tina FX,

No improvement in GDP figures

Today GDP figures came out which were same as of the previous quarter but not as per the expectations of the Analysts. According to the data U.S. economy is growing at a rate of 2.5%. Data for unemployment claims also came out which fell by 5000 to 305 K although analysts were expecting it to reach 325000 thus increasing expectation of the investors that fed may start tapering. The other important concern for the government is that it has reached its statutory borrowing limit of about $16.7 tn on 19 May and the treasury may not be able to meet close to third of $80 million worth of payments it makes each month. Does that point out to the question for increasing the debt ceiling as it may seriously impact the U.S. economy? U.S. congress is struggling to pass a spending bill to keep the government funded beyond October 1. Does that really mean if nothing comes up then federal government will be shut down on Tuesday?