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3Q adv GDP +3.0% vs +2.7% expected and down.>

US DATA: 3Q adv GDP +3.0% vs +2.7% expected and down only slightly 
from 3.1% in 2Q, while GDP price index +2.2% vs +1.8% expected and +1.0% 
2Q. The core PCE price index was +1.3% in 3Q after +0.9% in 2Q, for 
year/year rates of +1.3% 3Q vs +1.5% 2Q. The BEA acknowledged the 
destruction from the hurricanes, but said it could not quantify the 
overall impact on the GDP data. Components for 3Q showed positive 
contributions from PCE (+1.62pp), inventories (+0.73pp), nonresidential 
fixed investment (+0.49), and net exports (+0.41pp) that were offset by 
negative contributions from residential investment (-0.24pp) and 
government spending (-0.02 pp). Real final sales +2.3% vs +2.9% in 2Q. 
See MNI main wire. 

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