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

• 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 Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term, which is something that could weigh on the dollar and boost risk appetite Risk Appetite Risk appetite is a term used by investors in financial markets, describing the behavior by traders to actively seek out exposure to uncertainty or risk with the hope of higher payoffs. The term contrasts with risk aversion, which is defined as a trader's preference to limit their exposure to uncertainty or risk. Risk appetite is a very trait of investors especially in times of prosperity, who seek to flock towards investments with an unknown payoff or outcome. These traders will opt for less sa Risk appetite is a term used by investors in financial markets, describing the behavior by traders to actively seek out exposure to uncertainty or risk with the hope of higher payoffs. The term contrasts with risk aversion, which is defined as a trader's preference to limit their exposure to uncertainty or risk. Risk appetite is a very trait of investors especially in times of prosperity, who seek to flock towards investments with an unknown payoff or outcome. These traders will opt for less sa Read this Term.