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    Home ยป US GDP Growth Unexpected Revised Upwardly to 2.3% in Q3
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    US GDP Growth Unexpected Revised Upwardly to 2.3% in Q3

    December 22, 20211 Min Read
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    The US gross domestic product grew at an annual pace of 2.3% in the third quarter.

    • The reading was revised from the initial 2.1% estimate and compared with the growth of 6.4% and 6.7% in Q1 and Q2, respectively.
    • The price index for gross domestic purchases rose 5.6% in Q3, compared with an increase of 5.8% in the second quarter.
    • Earnings from current production slowed down to grow by $96.9 billion in the third quarter compared with $267.8 billion growth in Q2.
    • The third-quarter growth was hampered by the presence of the delta variant of COVID-19, worries over inflation, and supply-chain constraints that curtailed businesses in their ability to deliver goods to consumers.

    The initial concerns have somewhat eased offs, and economists estimate that fourth-quarter GDP will stand around 5% to 7%, with uncertainty over the impacts of the current Omicron variant.

    DXY down -0.22%, EUR USD up +0.23%

    Source: U.S. Department of Commerce

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