Real gross domestic product (GDP) increased at an annual rate of 3.2 percent in the third quarter of 2022 (table 1), according to the "third" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP decreased 0.6 percent. The "third" estimate of GDP released today is based on more complete source data than were available for the "second" estimate issued last month. In the second estimate, the increase in real GDP was 2.9 percent. The updated estimates primarily reflected upward revisions to consumer spending and nonresidential fixed investment that were partly offset by a downward ... (full story)

The US economy expanded at an annualized rate of 3.2% in the third quarter, the US Bureau of Economic Analysis' (BEA) final estimate showed on Thursday. This reading came in better than the previous estimate and the market expectation of 2.9%. "The updated estimates primarily reflected upward revisions to consumer spending and nonresidential fixed investment that were partly offset by a downward revision to private inventory investment.," the BEA explained in its publication. The US Dollar Index edged slightly higher with the initial reaction and was last seen trading flat on the day at 104.22. (full story)