US Q3 GDP second reading +2.1% vs +2.2% expected

Author: Adam Button | Category: News

The second look at Q3 GDP

US Q3 GDP second reading
Details:
  • Inventories added 2.13 pp to GDP vs 2.07 pp in first reading
  • Inventories cut -2.62 pp in Q1
  • Exports -0.33 pp
  • Imports -0.83 pp
  • Trade -1.16 pp and there was a 1.14 pp drag in Q2
  • Home investment -0.41 pp
  • Personal consumption added 1.18 pp GDP vs 1.09 in first reading
  • Government spending added 0.16 pp to GDP vs 0.14 pp in first reading
There are no big surprises in the data as soft consumer spending on goods was a drag while services spending didn't return as strong as hoped for because of the delta variant. Notably, the drop in consumer spending on motor vehicles and parts alone was a 2.5 pp drag on growth.
Invest in yourself. See our forex education hub.
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose