“While the revised growth rate is in line with President Donald Trump’s goal, economists generally see such a pace as unsustainable and expect growth to slow sometime in 2018,” Chandra reports. “The biggest improvement came in business investment, which made a 1.2 percentage-point contribution to growth, up from 0.98 point in the initial estimate a month ago. In addition to greater spending on transportation equipment, the data also reflected more software spending.”
“Corporate profits grew, albeit at a slower year-over-year pace than in the prior period,” Chandra reports. “After-tax incomes adjusted for inflation increased at a 0.6 percent annual pace, revised from 0.5 percent; saving rate revised to 3.3 percent from 3.4 percent”
Read more in the full article here.
MacDailyNews Take: A stronger U.S. economy, especially regarding employment and disposable income gains, obviously bodes well for Apple.
Goldman Sachs sees U.S. unemployment rate hitting lowest level since the late-1960s – November 20, 2017
American consumer confidence soars to highest level since December 2000 – October 31, 2017
U.S. jobless claims plunge to lowest level since 1973 – October 19, 2017
U.S. economy picks up steam; second-quarter GDP up 3.0% reflecting robust consumer spending and strong business investment – August 30, 2017
U.S. consumer confidence shows Americans upbeat on jobs, economy – July 25, 2017