Saw the U.S. economy weeks relatively quiet in terms of issuing statements and economic news, compared with the past few weeks, where focused data last week on housing data and gross domestic product in the United States, but the latest developments in the situation in Europe continued to dominate the financial markets, and especially in Spain and Greece.
Where he witnessed last week demonstrations in the Spanish capital Madrid to protest the policies of austerity being pursued by the Spanish government to control the winds across the economy of Spain, while witnessed the Greek capital Athens strike workers' to protest against the policies of austerity being pursued by the Greek government as well, which predicts more tension in the two countries.
We must be noted that the data last week pointed to a decline requests durable goods during August / August sharply lower than expectations, which confirms that the requests durable goods remained weak, while the index showed that requests for products that reflect portability consumer spending is still weak is the other, due to weak spending levels, noting that spending is two-thirds of GDP almost.
With regard to the data on the performance of housing sector - the sector which began worst financial crisis in the history of the United States since World War II - during the month of August / August, where we have seen lower index new home sales and the worst of expectations, along with lower home sales waiting and lower than expectations, too, which confirms that the sector is still looking for stability missing, amid rising unemployment in the country, tighter credit conditions, not to mention the high values of imprisonment mortgages, to continue those factors burdening housing sector, noted that Feds recently confirmed on many occasions continued weakness in the housing sector, and Qbua activities within the disappointing levels.
The U.S. Department of Commerce was on a date with the version of the GDP data to read the third for the second quarter of this year 2012, where the report showed that the U.S. economy grew by only 1.3%, lower than expectations, which indicated that the U.S. economy grew by 1.7% During the second quarter, while personal spending levels have risen by 1.5 percent below expectations, which confirmed those readings that the U.S. economy saw a real setback in the first two quarters of this year.
Despite the fact that the U.S. economy is still facing a lot of challenges at the moment, but the Feds had confirmed through another committee meetings FOMC and private announcing interest rates, as decided to revive plans of quantitative easing in the third round, where Feds approved recently a third round of quantitative easing by 40 billion U.S. dollars a month, and even the stability of the situation in the U.S. labor sector.
Has concluded the U.S. economy data last week issued a report income, which came were mixed a bit, where he confirmed the report of the high personal income during August / August and rose by 0.1 percent, compared with the previous reading, which amounted to 0.1 percent, and the lowest of expectations of 0.2 % Also, while levels showed personal spending modest growth during the same month rose by 0.5 percent only, compared with the previous reading, which amounted to 0.4%, and congruent with expectations, noting that spending levels constitute two thirds of GDP in the United States of America, and the best we can Description income and spending levels in the United States that it is still "weak", does not rise to the levels required.
Saw last week also issued final reading of the University of Michigan U.S. consumer confidence and for the month of September / September, to witness the decline of the index during that period and lower than expectations, noting that confidence levels are a key player in the levels of confidence in the United States.
The prices of U.S. crude oil over the past week to conclude trading last week about the levels of U.S. $ 91 per barrel, due to the wave of fear that swept the financial markets about the European debt crisis, which led investors at the same time to go about havens, especially gold, rising gold prices in last week's trading to the levels of 1773 U.S. dollars per troy ounce.
