24 Nov 2015
US Q3 GDP revised higher to 2.1% as expected
FXStreet (Mumbai) - The second estimate of the US Q3 GDP released revised the growth rate higher to 2.1% quarter-on-quarter (QoQ), matching the estimated rise from the preliminary estimate of 1.5%.
The GDP price index printed at 1.3% QoQ, compared to the expected and previous print of 1.2%. The core personal consumption expenditure (PCE) matched the estimate of 1.3% QoQ growth.
Consumer spending slowed
Consumer spending, the main engine of U.S. economic growth, rose 3% instead of 3.2%. Exports were up 0.9%, less than the prior 1.9% estimate, while imports rose a somewhat stronger 2.1%. Business spending fell 7.1% on structures, but rose 9.5% on equipment.
The GDP price index printed at 1.3% QoQ, compared to the expected and previous print of 1.2%. The core personal consumption expenditure (PCE) matched the estimate of 1.3% QoQ growth.
Consumer spending slowed
Consumer spending, the main engine of U.S. economic growth, rose 3% instead of 3.2%. Exports were up 0.9%, less than the prior 1.9% estimate, while imports rose a somewhat stronger 2.1%. Business spending fell 7.1% on structures, but rose 9.5% on equipment.