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Q3 GDP +33.1%; PCE +40.7%

US DATA
MNI (Washington)
  • U.S. GDP rose at an annual rate of 33.1% in Q3, above market expectations for a 32% increase, according to figures released Thursday by the Bureau of Economic Analysis.
  • That mainly reflected increases in PCE (+40.7%), exports (+59.7%), nonresidential fixed investment (+20.3%), and residential fixed investment (+59.3%).
  • Those increases were partially offset by a decline in federal government spending (-6.2%), reflecting fewer fees paid to administer PPP loans, the BEA said. State and local government spending also fell in Q3.
  • The GDP price index rose 3.6% after falling 1.8% in Q2. The PCE price index increased 3.7% following a 1.6% drop in Q2. Excluding food and energy prices, the PCE price index was up 3.5% in Q3 compared with a 0.8% decline in Q2.
  • Disposable personal income fell 13.2% in Q3 after surging by 44.3% in Q2. The personal savings rate slowed to 15.8% in Q3 compared with 25.7% in Q2.
MNI Washington Bureau | +1 202-371-2121 | brooke.migdon@marketnews.com
Energy BulletsCommodities
MNI Washington Bureau | +1 202-371-2121 | brooke.migdon@marketnews.com
Energy BulletsCommodities

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