CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: 3Q US GDP Slows To 2.8%; Core PCE Inflation 2.2%

Consumer spending, exports and federal government spending drove growth in the third quarter.
USDataCentral Bank NewsPolicy NewsFederal ReserveEM Policy NewsData BriefEM BriefGlobalStoryRegionNorth America

MNI (WASHINGTON) - U.S. GDP growth decelerated slightly in the third quarter to an annual rate of 2.8% from 3.0% in the previous quarter, coming in two-tenths below analyst estimates, while core PCE inflation at 2.2% for the quarter was a tenth higher than expected, according to the Bureau of Economic Analysis's initial estimate Wednesday.  

Growth reflected increases in consumer spending, exports and federal government spending. Imports, a subtraction in the calculation of GDP, also increased. Personal consumption expenditures rose to 3.7% from 2.8% in the second quarter, and final sales to private domestic purchasers grew 3.2%, up from 2.7% in the previous three months.  

Keep reading...Show less
141 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

MNI (WASHINGTON) - U.S. GDP growth decelerated slightly in the third quarter to an annual rate of 2.8% from 3.0% in the previous quarter, coming in two-tenths below analyst estimates, while core PCE inflation at 2.2% for the quarter was a tenth higher than expected, according to the Bureau of Economic Analysis's initial estimate Wednesday.  

Growth reflected increases in consumer spending, exports and federal government spending. Imports, a subtraction in the calculation of GDP, also increased. Personal consumption expenditures rose to 3.7% from 2.8% in the second quarter, and final sales to private domestic purchasers grew 3.2%, up from 2.7% in the previous three months.  

Keep reading...Show less