US GDP
  • Second reading was +2.1%
  • Q2 was +6.7% annualized
  • Q1 was 6.4% annualized
  • Personal consumption +2.0% vs +1.7% second reading
  • GDP deflator +5.9% vs +5.9% second reading
  • Core PCE +4.6% vs +4.5% second reading
  • GDP final sales +0.1% vs 0.0% second reading
  • Full report

The consumer was a bit stronger in Q3 than was believed and that's filtered through to Q4 so far with October retail sales coming in strong.

  • Details:

    • Inventories added 2.20pp to GDP vs 2.13 pp in second reading
    • Inventories cut -2.62 pp in Q2
    • Exports -0.59 vs 0.33 pp in second reading
    • Imports -0.68 vs -0.83 pp in second reading
    • Trade -1.26 vs -1.16 pp in second reading
    • Home investment -0.38 vs -0.41 pp in second reading
    • Personal consumption +1.35 pp GDP vs +1.18 pp in second reading
    • Government spending added 0.17 pp to GDP vs +0.16 pp in second reading