AMERICAN ECONOMY-ON TRACKS ON CONSUMER EXPENDITURE STILL LEVELING

US markets showed some range bound trading despite some good economic reports as traders showed concern over Japan's nuclear crisis and violence in the Middle East and North Africa. Oil prices eased slightly as the rebels in Libya, Moammar Gadhafi won terrain against with the help of international air attacks against the Gadhafis forces.

Gross domestic product grew at an annual rate of 3.1 percent, the Commerce Department said in its final estimate, revised up from 2.8%. The consumer sentiment report added some recent economic data--with the exception of employment and production--, suggested growth in the first three months of the year 2011 will at best equivalent to fourthquarter pace or slow.

According to Sweet suggests data so far, growth in the first three months of 2011 was between 2.5% and 3%. Rising fuel prices, strengthened by the turmoil in the Middle East and North Africa, is largely blamed for the expected withdrawals in growth, although economists expect that it will be temporary. Still expected any major impact on the US economy from the devastating earthquake and tsunami in Japan. Treasury Secretary Timothy Geithner on Friday said he was not concerned disaster in Japan would damage the U.S. recovery. U.S. gross domestic product rose a 3.1% annual rate in the fourth quarter, revised up from 2.8% pace reported a month ago. The Government provides three estimates of economic growth per quarter, with each reflect more complete information than the last. Investors will have a look at Hutchison Whampoa full-year results and two reports on March manufacturing activity in China plus industrial output data from Japan. Market Watch Lisa Twaronite in Tokyo to look at the upcoming week.

New data showed that corporate profits had a banner year in 2010. Before tax increased corporate profits 36,8% during the past year has the largest leap since 1950. The revision to the GDP was in line with expectations of economists surveyed by MarketWatch. Compared with the previous estimate, estimated the Government greater business investment. The inventories was less of a drag on growth than previously estimated. Final sales of domestic product increased 6.7% annual pace, unchanged from the previous report. Economists are much more concerned for the current quarter, which ends next week. In recent weeks have analysts steadily trimming their estimates for the first quarter growth. The trend continued Thursday, when the Bank of America Merrill Lynch macroeconomic advisers and Morgan Stanley each carved their first quarter GDP view. Macroeconomic Advisers estimates fell to 2,3% from 2.5%, while Morgan Stanley slipped to 2.5% from 2.7% and b. a. 's estimates fell to 2.2% from 2.5%, after weak durable-goods orders in February.

US markets showed some range bound trading despite some good economic reports as traders showed concern over Japan's nuclear crisis and violence in the Middle East and North Africa. Oil prices eased slightly as the rebels in Libya, Moammar Gadhafi won terrain against with the help of international air attacks against the Gadhafis forces. On the domestic political front, the Commerce Department said that consumer spending rose in its fastest pace in four months in February, even though some of the increase was driven by higher gas prices. At the same time, said the National Association Realtors more Americans signed contracts to buy homes in February than economists expected. Sales increased in every region, but the Northeast, but remained under what is considered a healthy level. Sales agreements for housing rose unexpectedly 2.1 percent last month to a reading of 90.8. Signatures was 19.6 percent above Junis index reading, all-time low since the housing bust. Rupee, came after losing all its steam in the preceding week, back on its track in the last week of March, supported by gains in the stock market in the middle of dollar weakness against ther Asian currencies. Local unit was also comforted by the external commercial borrowing-related dollar approach. Higher demand from oil importers after the greenback could, however, limit the increase in domestic currency go further in the day.

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