Central Banks Forex Market Intelligence News

US Q3 advance GDP +2.6% vs +2.4% expected

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  • Final Q2 reading was -0.6% annualized
  • Q1 was -1.4% annualized

Details:

  • Consumer spending +1.4% vs +1.1% prior
  • Consumer spending on durables -0.8% vs -2.8% prior
  • GDP final sales+3.3% vs +1.3% prior
  • GDP deflator +4.1% vs +5.3% expected
  • Core PCE +4.5% vs +4.5% expected
  • Exports +14.4% vs +13.8% prior
  • Imports -6.9% vs +2.2% prior
  • Net trade added 2.77 pp to GDP vs +1.16 pp in Q2
  • Inventories cutt GDP by 0.70 pp vs 1.91 pp in Q2
  • Full report

The final Atlanta Fed GDPNow tracker was +3.1%.

What stands out for me is the low PCE deflator. We get the PCE report tomorrow and that points to a downside surprise in headline inflation , which is something that could weigh on the dollar and boost risk appetite .


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