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GDI Continues To Offer A More Subdued Take Than GDP In Q3

US DATA
  • This release also sees the first release of gross domestic income (GDI), which increased just 1.47% annualized in Q3 after a downward revised 0.45% in Q2 (initial 0.72).
  • It’s particularly lacklustre considering GDP growth was notched at 5.15% and it follows an average of just 0.5% annualized in 1H23.
  • Averaging the two, real economic growth accelerated to 3.3% annualized in Q3 after an average 1.3% in 1H23. It follows two mixed years, with a tepid 0.3% Y/Y in 4Q22 after 4.9% in 4Q21 from the post-pandemic recovery.

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