US Q3 final GDP +3.1% vs +2.8% expected

• Advance Q3 reading was +2.8% annualized
• Second estimate was +2.8% annualized
• Final Q2 reading was +3.0% annualized

Details:

• Consumer spending +2.8% vs +3.5% second reading
• Consumer spending on durables +7.6% vs +8.1% second reading
• GDP final sales +3.3% vs +3.0% second reading
• GDP deflator +1.9% vs +1.9% second reading
• Core PCE +2.2% vs +2.1% second reading
• Corporate profits after tax -0.4% vs 0.0% second reading
• Business investment (nonresidential fixed investment) +4.0%

Contributors and subtractors to growth:

• Consumption: +2.48 pp vs +2.37 pp second reading
• Government: +0.86 pp vs +0.83 pp second reading
• Net International trade: -0.43 pp vs -0.57 pp second reading
• Inventories: -0.22 pp vs -0.11 pp second reading

This article was written by Adam Button at www.forexlive.com.