'Growth easily beat expectations of 3.1 per cent, with the strength of the rebound demonstrating
that the world’s largest economy is picking up speed, and robust jobs data in recent months were not a fluke.
The second-quarter strength comes after a dismal 2.9 per cent annualised fall in the first quarter – which was revised to a 2.1 per cent decline with this release. The rebound confirms there was no fundamental weakness in the first quarter.
Alongside the second-quarter growth numbers, the Bureau of Economic Analysis also published wide-ranging revisions to data for the past three years. This year’s changes were relatively modest but suggest the
recovery was weaker than previously thought. The average growth rate for the years from 2011 to 2013 was revised down from 2.2 per cent to 2 per cent'
The smartphone theme is still a compelling one - just look at the growth of Whatsapp...
...but the real value is with the telecoms sector i.e. those offering connectivity and contracts. Slightly strangely presented in yen terms but here is an interesting global comparison of costs.
Ebola flight risk...unfortunately an essential chart (interesting to see how limited inter-African travel is as a side point):
UK consumer confidence...high but dipping?