world's latest data shows the world's largest economy grew by 3% in the second quarter. which is higher than initially thought. meanwhile, few americans filed for unemployment benefits last week, the dowjones industrial average to close at a record high. the bbc�*s ritika gupta has more. the dow hit a fresh record—high on thursday following robust economic data. americans filing forjobless claims last week came in lower than expected at 231,000, and us gdp for the second quarter was revised upwards to 3% from the previous 2.8% rating. now, a big part of that was down to consumer spending, as it drives two thirds of the us economy. the stronger advances and key categories included spending on health care, housing and utilities and recreation. that offset and downgrades and other categories, like exports and private inventory investment. spending is being supported in part by wage gains, but momentum is slowing as the labour market shifts into lower gear. personal income rose personal income rose

only moderately. only moderately. yet, overall, the data yet, overall, the data is a good sign for the economy is a good sign for the economy and it comes at a time and it comes at a time when there has been growing when there has been growing concern over the health concern over the health of the consumer and the labor of the consumer and the labor market, especially after market, especially after the latest monthlyjobs data, the latest monthlyjobs data, which was a big disappointment. which was a big disappointment. forecasters seeing a further moderation in the economy for the remainder of the year as high borrowing costs continue to filter through the economy, continue to filter through the economy, but most economists aren't yet predicting a recession. at the same time, the federal reserve is set to begin lowering interest rates next lowering interest rates next month as inflation slows. that may provide some relief, month as inflation slows. especially two sectors heavily impacted by borrowing costs impacted by borrowing costs like housing and manufacturing. next up, economists are looking like housing and manufacturing. ahead to friday's released to pce data forjuly, to pce data forjuly, that is the inflation gauge that excludes volatile that is the inflation gauge food and energy prices

chief us economist at snp chief us economist at snp global ratings tells us what lies ahead for the us economy. we had some pretty decent second—quarter number out. it looks like the economy is steady as she goes right now, at least the underlying domestic demand. as for the fed, they are pretty happy with this number, especially given the inflation has been coming in near their own to present targets, so given all of the data that has come out, it seems like they might be ready to start the cycle in september. can you elaborate a bit more on the fed and what will be part of the thinking process as it looks to this announcement in september and the rest of the year? we think they will probably look at employment sides of things more closely now. chairman powell in his meeting did say that he would be more sensitive to what happens to risks around employment gains, given that we think we are at a trend

path right now, there are probably looking at cutting rates at meetings at least in the next 12 months, so perhaps getting back closer to 3.754 by the spring of next year. and if we turn our attention to inflation, it has been coming down in the us, 2.9% now. consumers still complaining and feeling the high cost of living. there is this cost—of—living fatigue. we did get quite a bit of a price rise. now, it seems that at least inflation in the prices has kind of studied itself to a more pre—pandemic two percentage sort of growth rates, but the price level itself has not come down overall, so they are feeling that bit of a price pinch, especially if you remember the prices pre—pandemic. if we turn our attention to the

upcoming election in november, what impact it may have on the economy, what have you been making of the two candidates in the running for the white house? at the end of the day, it's not the president that decides to make up of the congress, it seems like right now, it's a tossup, one thing for sure, now, it's a tossup, one thing forsure, both now, it's a tossup, one thing for sure, both sides of the both sides, it's the same as it comes to trade. presidential elections, the democratic party's nominee kamala harris has given her first a down interview alongside her running mate tim walz. . , , ., walz. the vice president told cnn that the _ walz. the vice president told cnn that the biden - cnn that the biden administration was successful in bringing the us economy out of the pandemic slowdown and she also said she will work to make essentials like housing more affordable if she is elected. in other news, elon musk social media platform x says it expects to be suspended in brazil, this comes after the

company failed to appoint

more concerns of a delayed monsoon, but now that the rains have picked up, that has had a positive impact on the agriculture. the report also says that the economy is not completely ignorant of the uncertainties currently around the world but does say that the indian economy has remained resilient to the disruption in global supply chains and that is something that is likely to remain as well. agencies like the international monetary fund have also revised upwards india's growth story as well, so that is something that the indian economy would be taking comfort in as well. but they've also cautioned that all of this, this stable and robust growth is also dependent on india's private consumption, picking up something that has slowed down and also whether the indian economy can make the most of its vast and substantial labour pool as well and make the most of its demographic dividend. turning technology for huawei says it's a net profitjumped i mean i wouldn't want to say says it's net profitjumped by 20% in the first half of the says it's a net profitjumped by 20% in the first half of the

year. held by strong matt ford year. held by strong matt ford —— smartphone sales. they said —— smartphone sales. they said the smart car components the smart car components performed well, this comes performed well, this comes despite us sanctions preventing despite us sanctions preventing chinese companies from chinese companies from accessing advanced american accessing advanced american ships, and other technology. ships, and other technology. it's friday, so why not have a it's friday, so why not have a bit of music? i? bit of music? i? it's friday, so why not have a bit of music?— bit of music? # because maybe- -- _ it's friday, so why not have a bit of music?— bit of music? # because maybe- -- _ bit of music? # because maybe- -- # _ bit of music? # because maybe... # you're - bit of music? # because | maybe... # you're going bit of music? # because i maybe... # you're going to bit of music? # because maybe- -- # _ bit of music? # because maybe... # you're - bit of music? # because | maybe... # you're going bit of music? # because i maybe... # you're going to bit of music? # because - maybe... # you're going to be the one that saves me. doesn't bit of music? # because - maybe... # you're going to be the one that saves me. doesn't sound familiar? _ the one that saves me. doesn't sound familiar? you _ sound familiar? _ the one that saves me. doesn't sound familiar? you _ the one that saves me. doesn't sound familiar? you can - the one that saves me. doesn't sound familiar? you can belt i the one that saves me. doesn't the one that saves me. doesn't sound familiar? you can - the one that saves me. doesn't sound familiar? you can belt i the one that saves me. doesn't sound familiar? you can belt it| sound familiar? you can belt it out live, the oasis brothers, it's about the money. sound familiar? you can belt it| the one that saves me. doesn't sou live, niliar? you can belt it| the one that saves me. doesn't sou live, their? you can belt it| the one that saves me. doesn't sou live, the oasis u can belt it| the one that saves me. doesn't sou live, the oasis brothers, it| out live, the oasis brothers, noel and liam gallagher, are noel and liam gallagher, are reuniting after a 15 year reuniting after a 15 year hiatus after its use of noel and liam gallagher, are reuniting af its a 15 year noel and liam gallagher, are reuniting af its use year noel and liam gallagher, are concerts next summer. the vong reuniting af its use ofar hiatus after its use of concerts next summer. the vong announced the dates within announced the dates within europe kicking off in cardiff europe kicking off in cardiff and ending in dublin. there has been chatter about adding international gigs later in 2025, rob schwartz explained with the reunion means for the band and for the uk economy. the rumour used to be that they hated each other. of course, a well—known fistfight in 2009 when they broke up. but one assumes they were able to patch it up or it is about

the money, who knows. i mean i wouldn't want to say

with japanese or asian characters in a video they made. so that was their own kind of, like, nodding to their popularity injapan, which is massive. usually, when you have fans in japan, they stick with you. that is the kind of unique thing to japan. so i think that they are absolutely gigantic injapan, of all the asian territories, and, i think that popularity persists. there is probably still cover bands, tribute bands even today in tokyo. we have seen music acts like taylor swift having said to move economies and contributing to gdp of nations when they go touring. is oasis of that calibre in the uk in particular? do you think they will move the needle or at least be a boost to the economy? in the uk, there is no doubt that they are. i have heard predictions that they are going to sell out faster than taylor. i don't know if that is true

or if they will sell as many tickets, if they even plan to do as many shows as she did. but certainly it will have an economic impact, and they are reunion, as you well know is front page headlines in the uk. a little bit different in other territories, especially here in the us. have a great day. bye for now.

hey, i'm lola with the catch up. tonight, paralympics kick off, amazing animal pics and tomato mania. might this be the end of the smokers' area chats on a night out? the government is looking at tightening rules on smoking outside in england. it could include pub gardens, outside clubs and at restaurants. scotland, northern ireland and wales could do something similar too. about 13% of adults in the uk smoke, and tobacco use causes 80,000 deaths a year. health bosses say there's no safe amount of second—hand smoke either. some other stories now. day one of the paralympics in paris and the medals are already being won. poppy maskill won paralympics gb's first gold with a world record in the pool. fans will be able to catch

these moments for the first time in officialfan zones across the country. the future of vocational courses like btecs is a "mess". that's according to more than a50 schools and colleges in england. a review into post—i6 education isn't due until december, leaving them unsure what they can offer in 2025. and wildlife photographer of the year is back. the contest, run by the natural history museum, highlights the best nature photography from all around the world. there were nearly 60,000 entries and these are some of my favourites. the winners will be announced on 8 october. time now for ten seconds of tomato mania. spain's la tomatina festival saw thousands swimming in tomato sauce, throwing tomatoes at one another and even making "tomato angels." i'm booking my ticket for next year's festival asap. you're all caught up now —

have a great night!

welcome along to sportsday. i'm adam wild. here's what's coming up: a new format for a new extended champions league season. the draw�*s been made, and all 36 teams now know who they'll be playing in europe's top competition. two comfortable wins, and in double quick time. both world number ones breeze through to the next round at flushing meadow. and louis rees—zammitjoins the jacksonville jaguars'

practice squad following his preseason training camp with the kansas city chiefs. welcome along. the draw for this season's champions league has been made at a glittering ceremony in monaco. the likes of gianluigi buffon and cristiano ronaldo were involved in picking out the balls. gone is the old group stage. the newly extended competition now has 36 teams with each playing a minimum of eight games against eight different teams in the initial phase. premier league champions manchester city will have to travel to paris saint—germain and juventus amongst others.