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MNI BRIEF: US 3Q GDP Beats Expectations; PCE Inflation 4.2%

(MNI) WASHINGTON

U.S. growth rebounded at a slightly faster pace in the third quarter than Wall Street expectations, rising 2.6%, two tenths higher than analysts anticipated, after falling for two straight quarters, the Bureau of Economic Analysis said Thursday. The PCE price index decelerated to a 4.2% increase over the July through September period while core PCE inflation was 4.5%, down from 7.3% and 4.7%, respectively.

The rebound reflected a smaller decrease in inventory investment, acceleration in nonresidential fixed investment and rise in federal government spending, while residential fixed investment and a deceleration in consumer spending hurt growth, the BEA said. Imports also fell.

MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com

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