Fourth Quarter Starts Slowly for U.S. Growth

Growth in the world’s largest economy got off to a slower start in the fourth quarter as U.S. consumer spending, equipment orders and new-home sales were weaker than forecast in October.

Household purchases rose 0.2 percent, less than the projected 0.3 percent gain in a Bloomberg survey, while bookings for non-military capital goods excluding aircraft unexpectedly fell 1.3 percent for a second straight month, Commerce Department data showed today in Washington.

“The economy is still pretty resilient, but it’s a bit cautious out there,” said Sarah House, an economist at Wells Fargo Securities LLC in Charlotte, North Carolina. “Some of these first October numbers put us off to a weaker start” in the current quarter.


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.