- Second estimate was +2.9%
- Advance estimate was +2.6%
- Q2 GDP was -0.6%
Details:
- Consumer spending +2.3% vs +1.7% second reading
- GDP deflator 4.4% vs 4.3% second reading
- Core PCE prices 4.7% vs 4.6% second reading
- Corporate profits +0.8% vs -0.2% second reading
- Sales +4.5% vs 4.0% second reading
- Inventories cut 1.19 percentage points from GDP
- Exports +14.6% vs +15.3% second reading (imports unrevised)
The US dollar has jumped on this report, which is a rare market move for a third reading on GDP. The sense is that higher GDP raises the odds that the Fed will follow though on rate hikes. The Q3 PCE numbers were also higher.
