10/28/2021, 2:31 PM (Source: TeleTrader)
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US GDP grows 2% in Q3, misses estimates

The gross domestic product (GDP) of the United States increased at an annualized rate of 2% in the year's third quarter, missing the analysts' forecasts, the US Bureau of Economic Analysis revealed in its first estimate on Thursday.

The trend marks a significant slowdown compared to the second trimester of the year, during which the GDP advanced by 6.7%.

The price index for gross domestic purchases moved up by 5.4% in the third quarter, marking a 0.4% rise from the prior quarter's figure. The personal consumption expenditures (PCE) expanded 5.3%, down compared to last quarter's 6.5%. Excluding food and energy prices, the PCE price index went from 6.1%, seen in the second three-month period, to 4.5%.

Baha Breaking the News (BBN) / BU