12/22/2020, 2:32 PM (Source: TeleTrader)
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US GDP up by 33.4% in Q3 - third estimate

The real gross domestic product (GDP) in the United States in the third quarter rose by 33.4%, according to a revised report by the US Bureau of Economic Analysis on Tuesday. The previous estimate put the GDP growth at 33.1%, already the largest growth in US history.

"The upward revision primarily reflected larger increases in personal consumption expenditures (PCE) and nonresidential fixed investment," the agency explained. The PCE price index increased by 3.7% in the third quarter, compared to a decrease of 1.6% in the second quarter. Excluding food and energy prices, the PCE price index was up by 3.4%, in contrast to a decrease of 0.8% in Q2.

Breaking the News / DJ