US Economy Grows at 2.8 Percent in Third Quarter

The US economy grew at an annualised pace of 2.8% in the third quarter of the year, latest figures have shown.

The growth rate was faster than expected, and was an improvement on the 2.5% pace seen in the previous quarter.

Growth was lifted by rising exports, businesses restocking shelves and a pick-up in home construction.

However, the pace of growth in consumer spending – which accounts for about two-thirds of US economic activity – slowed from the previous quarter.

Consumer spending grew at annual pace of 1.5%, down from 1.7% in the April-to-June period and the slowest rate since 2011.

The release of the third-quarter GDP figures was delayed by a week because of the partial shutdown of the US government last month.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza