US GDP advances 3.0% in Q3

The economic growth during July-to-September period in the US picked up by 3.0% at an annual rate, the Bureau of Economic Analysis reported on Tuesday, beating the market expectations of 2.5% rise.

The GDP growth rate reached 3.1% in the second quarter. Better than expected reading did not reflect lower economic activity in South-East during the hurricane season.

The Q3 US GDP deflator advanced to 2.1 % compared to 1.0% in the previous quarter.