U.S. government agency that provides official macroeconomic statistics
Tesla has expanded its robotaxi service in Austin to operate without a human operator in the entire Austin Metro area, marking a notable step in autonomy. The company has removed in-vehicle monitors in several vehicles, reflecting growing confidence in its self-driving technology. Waymo remains a key comparator with a larger fleet in nearby markets.
GDP growth has slowed to 1.5% in Q2, down from 2.1% in Q1, as a trade deficit widens and petrol prices spike. Consumer spending remains resilient, while AI investment continues to push capital formation and imports, dampening net exports. Fed kept rates unchanged amid inflation concerns, with midterm elections approaching.
Trump has visited California to headline a Republican National Committee dinner, touting his economic record and contrasting it with California leadership. He is also set to travel to Nevada to deliver remarks on the economy, while opponents argue over inflation, crime and minimum wage policies. The trip underscores a broader national debate about economic performance ahead of the 2026 midterms.
A block of UK indicators shows services activity expanding and consumer confidence firming, while manufacturing remains modest. PMI readings point to continued growth in Q3, supported by tech investment and exports, though inflation and public finances remain a risk.
A mix of mortgage rates remaining elevated and inventory growth is shaping US and UK housing markets. Cash sales have cooled, financed buyers are gaining ground, and prices show modest changes in several markets. Analysts warn of continued affordability challenges and potential further rate-related pressure.
Market data shows mortgage rates remain high amid persistent inflation. Analysts expect rates to stay elevated into 2027, with potential for further increases if inflation remains sticky. Homebuyers face affordability challenges as prices stay elevated.