Fan Yang
2
All posts from Fan Yang
Fan Yang in Fan Yang,

US GDP growth beats forecasts in Q3

The "advanced" estimate of Q3 GDP in the US came in at 2.9%

This beat forecasts that averaged around 2.5%

Q2 GDP growth was revised up from 1.2% to 1.4%.

Official Report: Bureau of Economic Analysis

The increase in real GDP in the third quarter reflected positive contributions from personal consumption expenditures (PCE), exports, private inventory investment, federal government spending, and nonresidential fixed investment that were partly offset by negative contributions from residential fixed investment and state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased.

The acceleration in real GDP growth in the third quarter reflected an upturn in private inventory investment, an acceleration in exports, a smaller decrease in state and local government spending, and an upturn in federal government spending. These were partly offset by a smaller increase in PCE, and a larger increase in imports.
(Full Report on Bureau of Economic Analysis)

As Bloomberg.com reports: U.S. Economic Growth Rebounds on Boost From Exports, Inventories

This is just the "advanced" estimate, whereas more data will be taken into consideration for the next "preliminary" report on November 29. Still, this is a welcoming sign after 3 tepid quarters.