U.S. GDP estimates revised lower

(Sept. 27, 2012) -- The third estimate of U.S. second-quarter 2012 GDP growth was an annualized 1.3 percent, which marked a larger-than-expected downward revision from the second estimate of 1.7 percent. In a separate report this morning, manufacturers’ new orders of durable goods plunged 13.2 percent in August following a downwardly revised 3.3 percent (was 4.1 percent) jump in July. 

Tire tariffs expire, Chinese tires may return

(Sept. 27, 2012) -- The Tire Industry Association (TIA) today reported that the U.S. trade tariffs on car and light-truck tires expired Sept. 16 after three years, eliminating the current duties on these imports from China. "Although this is a different animal from the Chinese tire tariff of 2009, it is a continuation of the on-going efforts of integrating the Asian giant into the world market," said Littlefield.