June 23, 2024

The Catholic Transcript

Complete News World

US GDP rises 2.1% in 3rd quarter


SAO PAULO – The second preliminary reading of US gross domestic product (GDP) in the third quarter increased by 2.1%, compared with a growth forecast of 2.2%. The data released today, Wednesday (24), came out tomorrow (25) along with other indicators expected due to the Thanksgiving holiday.

Although this fell short of expectations, the second GDP reading came in higher than the first, indicating 2% growth. Renewal reflects revisions in personal spending on private consumption and private sector investment, as well as increased public spending and exports.

In addition to GDP, investors are also integrating the number of claims for unemployment benefits in the United States: down from 71 thousand to 199 thousand in the week ended November 20, according to seasonal adjusted data released this Wednesday, the 24th. US Department of Labor. This is the lowest level since 1969.

The results were below the expectations of analysts consulted by the Wall Street Journal, which forecast 260,000 claims.

Total orders from the previous week were revised from 268,000 to 270,000.

PCE inflation, as monitored by the Federal Reserve for monetary policy, rose to 5.3% in the third quarter.

Orders for durable goods fell 0.5% in October compared to September. Was expected to increase by 0.2%.

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