The US economy grew 2.1% in the third quarter, in line with economists’ expectations, according to a second estimate of Gross Domestic Product.
This revision, based on more complete data received by the Department of Commerce, was an improvement from the advance estimate of 1.5%.
Increases in personal consumption, nonresidential fixed investment, and government spending boosted growth during the quarter.
Personal consumption rose 3%, lower than the expectation for 3.2%. And, corporate profits fell 4.7%, the biggest decline since 2009.
Core personal consumption expenditures, a measure of inflation, rose 1.3%, in line with estimates.
Refresh this page for updates.
SEE ALSO: GOLDMAN: Stocks will go nowhere in 2016
Join the conversation about this story »
NOW WATCH: The killer jobs report could mean a rate hike in December
from WordPress http://ift.tt/1XbQKcd
No comments:
Post a Comment