Economic Event | Period | Economic Survey | Actual Reported | Original Prior | Revised Prior |
GDP QoQ Annualized | 3Q A | 1.8% | 2.0% | 1.3% | |
Personal Consuption | 3Q A | 2.1% | 2.0% | 1.5% | |
GDP Price Index | 3Q A | 2.1% | 2.8% | 1.6% | |
Core PCE QoQ | 3Q A | 1.3% | 1.3% | 1.7% | |
The economy in the U.S. expanded more than forecast in the third quarter, paced by a pickup in consumer spending, a rebound in government outlays and gains in residential construction.
Gross domestic product, the value of all goods and services produced in the U.S., rose at a 2 percent annual rate after climbing 1.3 percent in the prior quarter, Commerce Department figures showed today in Washington. The median forecast of 86 economists surveyed by Bloomberg called for a 1.8 percent gain.
This is trend growth, just sort of steady as it goes, just kind of treading water. 2% won’t move the peg one way or another. It will keep us out of a recession, but it won’t create a lot of jobs or spur a lot of investment. It’s better than it was, not as good as it needs to be.
John Broussard
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury
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