The Commerce Department reported today that the US economy expanded by a 2.8 percent annual rate in the third quarter. This was less than the 3.5 percent the government expected and reflects a smaller gain in consumer spending as well as a larger-than-projected trade deficit.
“We expect profits to continue climbing this quarter as GDP rises further,†Joseph Brusuelas, a director at Moody’s Economy.com in West Chester, Pennsylvania, said before the report. “This will add momentum to the recovery by motivating firms to expand and hire again early next year.â€Â
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by Scott Boyd (see all)
- Japan’s Demographic Trap - 25 June 2012
- Officials Talk Openly of Greek Euro Exit - 16 May 2012
- Greek Voters Prepare to Roll the Dice - 15 May 2012