US GDP beats expectations at 4.9% in Q3

Up from 2.1% in Q2

clock • 2 min read

US GDP rose by an annualised rate of 4.9% in the third quarter of this year, surpassing analyst expectations of 4.3%.

Its highest quarterly rate since 2021, GDP grew across the board, with a 4.8% growth in goods spending and 3.6% growth in service spending, according to data from the Bureau of Economic Analysis. The only sector that witnessed a decrease was non-residential fixed investment (0.1% fall), largely due to a 3.8% drop in equipment spending. ECB meets expectations as rates held at 4% The jump from 2.1% last quarter has left the US economy "flying high", according to Neil Birrell, CIO of Premier Miton Investors. "The data we are seeing will be giving the Fed plenty to think about when ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Global

Investment Week launches Geographical Equities Conference 2024

Investment Week launches Geographical Equities Conference 2024

Allianz Global Investors, Downing, EdenTree and Royal London Asset Management among speakers

Investment Week
clock 15 January 2024 • 2 min read
Moody's downgrades China sovereign credit outlook to negative

Moody's downgrades China sovereign credit outlook to negative

Retains A1 rating

Elliot Gulliver-Needham
clock 05 December 2023 • 2 min read
ECB warns high rates are pushing economy towards fragility

ECB warns high rates are pushing economy towards fragility

‘Early signs of stress’ in banks

Elliot Gulliver-Needham
clock 22 November 2023 • 2 min read
Trustpilot