Oil prices rise to two-week high on dip in U.S. output
LONDON Oil prices rose to a two-week high on Thursday, extending a rally into a sixth straight session after a decline in weekly U.S. production eased concerns about deepening oversupply.
NEW YORK The U.S. economy is forecast to expand at a 3.6 percent annualized pace in the second quarter following the release of April figures on domestic retail sales and consumer prices, the Atlanta Federal Reserve's GDP Now forecast model showed on Friday.
The latest second-quarter gross domestic product estimate was unchanged from the one calculated on May 9, the Atlanta Fed said on its website.
(Reporting by Richard Leong; Editing by Chizu Nomiyama)
WASHINGTON The U.S. economy slowed less sharply in the first quarter than initially estimated due to unexpectedly higher consumer spending and a jump in exports, beating expectations and providing a slightly more encouraging outlook for growth this year.