Economy / Markets
US growth accelerated to 3.4% in the third quarter as inflation stayed warm
Real GDP rose at a 3.4% annual rate in the third quarter, the BEA's advance estimate showed, up from 2.2% in the second, on stronger investment, consumer spending and government outlays partly offset by lower exports. The GDP price index cooled to 3.0% from 5.6%. September's monthly PCE index rose 0.5% and was 3.6% higher year on year, with the core measure at 3.1%. Personal income grew 0.2% and the saving rate slipped to 3.8%.
Sources
US Bureau of Economic Analysis (GDP)US Bureau of Economic Analysis (Personal Income and Outlays)