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US Economy Buoyed By Consumer and Exports

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U.S. economic growth likely accelerated in the third quarter as consumers maintained a strong pace of spending and exports surged, potentially keeping the Federal Reserve on track to raise interest rates in December.

Gross domestic product probably increased at a 2.5 percent annual rate after expanding at a 1.4 percent pace in the second quarter, according to a Reuters survey of economists. That would be the strongest growth rate since the second quarter of 2015.

In addition to support from consumer spending and exports, the economy is also expected to have received a boost from a rebound in mining activity and inventory investment.

Reuters

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam

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