US: REAL GDP GROWS AT AN ANNUAL RATE OF 5.2% IN Q3 VS 5.0% EXPECTED
- The US economy grew at an annual rate of 5.2% in Q3; revised from 4.9%.
- The US Dollar Index stays in positive territory around 102.80.
The real Gross Domestic Product (GDP) of the United States expanded at an annual rate of 5.2% in the third quarter, the US Bureau of Economic Analysis' (BEA) preliminary estimate showed on Wednesday. This reading came in above expectations of 5.0% and above the previous estimate of 4.9%.
“The update primarily reflected upward revisions to nonresidential fixed investment and state and local government spending that were partly offset by a downward revision to consumer spending. Imports, which are a subtraction in the calculation of GDP, were revised down,” the BEA said.
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