US GDP Rises 3.6 Percent in Q3

December 5, 2013 Share Print 0

The US economy grew at an annual pace of 3.6% in the third quarter of the year, up from an initial estimate of 2.8%, revised figures have shown.

The growth rate was the fastest since the first quarter of 2012.

The third-quarter performance was an improvement on the 2.5% pace seen in the previous three months.

But the upward revision was mainly driven by a big jump in businesses restocking their inventories, the Commerce Department said.

The annualised growth figure was equivalent to a quarter-on-quarter increase of 0.9%, revised up from 0.7%.

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 a revised annual pace of 1.4%, down from 1.8% in the April-to-June period and the slowest rate since late 2009.

The inventory build-up consists of products that have been produced but yet sold, such as cars.

via BBC

This article 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 Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Bio
Twitter
Google+
Latest Posts

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.