10/27/2022, 2:30 PM (Source: TeleTrader)
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US GDP expands 2.6% in Q3

The gross domestic product (GDP) of the United States grew 2.6% in the third quarter of 2022 compared to the same period in the previous year, according to the "advance" estimate from the Bureau of Economic Analysis published on Thursday. The US economy contracted by 0.6% in the second quarter of 2022.

The price index for gross domestic purchases rose by 4.6% in the third quarter, marking a fall of 3.9 percentage points from the previous trimester. The personal consumption expenditures (PCE) price index climbed 4.2%, representing a quarterly decrease of 3.1 percentage points. Excluding food and energy prices, the PCE price index was up 4.5%, showing a 0.2 percentage points decline from the previous three-month period.

Baha Breaking News (BBN) / MS