Make earnings with no risk
Automated AI-driven system makes the trades, you earn the money
Join now
News

US Third-Quarter GDP Upgraded to 2.3%

0
One hundred dollars banknotes of the stack of coins from quarters and one dollar. Copy paste

The third-quarter American economic growth was slightly upgraded to reflect changes in personal spending and private inventory investment during the period.

Source: Bureau of Economic Analysis

The third estimate of the third-quarter gross domestic product stood at 2.3%, higher than the second estimate of 2.1%. The upgrade follows the 6.7% real gross domestic product growth recorded in the second quarter.

The update accounts for the upward revisions to personal consumption expenditures and private inventory investment, which were partly offset by the downward revision to exports. Imports were also downgraded.

Private inventory investment was revised higher to reflect growth in wholesale and retail trade. Personal spending reflected the growth in services, which was partly offset by the decline in goods.

The slower growth in the third quarter real GDP was more than accounted for by the deceleration in personal spending, as spending for goods slipped, and services declined.

 

fxcoach

UK Economy Grows Slower Than Initially Anticipated in Q3 Before Omicron Emerged

Previous article

Consumer Confidence Grows in December

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in News