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US GDP meets forecast but trails behind previous figure

The Gross Domestic Product (GDP) data for the United States economy was released, revealing an annualized change that matched the forecast but fell behind the previous figure. The actual GDP growth rate was reported to be 2.3%, aligning with economists’ predictions. This figure is a measure of the inflation-adjusted value of all goods and services produced by the US economy and is widely regarded as the most comprehensive indicator of economic health.

However, when compared to the forecasted figure, the actual GDP growth rate showed no surprises. Economists had predicted a growth rate of 2.3%, and the economy delivered exactly that. This indicates that the economy is growing at a steady pace, albeit slower than the previous period.

Initial jobless claims rise unexpectedly, casting a shadow on U.S. economy

The latest economic data shows a surprising increase in the number of initial jobless claims, which measures the number of individuals who filed for unemployment insurance for the first time during the past week. The actual number of initial jobless claims came in at 242K.

This new figure significantly exceeds the forecasted number of 222K, suggesting a larger-thanexpected number of people have found themselves out of work. This increase in jobless claims could be a potential sign of instability in the labor market, which may have broader implications for the U.S. economy.

Natural Gas Storage Declines Less Than Forecasted, Bearish Signs for Prices

The Energy Information Administration (EIA) has released its weekly report on the Natural Gas Storage, indicating a decline that was less steep than previously forecasted. The actual number of the decrease in natural gas storage was -261B cubic feet. This figure, while still representing a significant decline, fell short of the anticipated -276B cubic feet. This less-than-expected decrease implies weaker demand for natural gas, which could potentially exert downward pressure on natural gas prices.

Nifty : Trend remains down; hovering around support zone.

Nifty Auto Index :Channel breakdown, extending the falling leg.

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