U.S. Third Quarter GDP Revision Quick Review

The annualized quarter-on-quarter revised growth rate of the actual GDP in the United States for the third quarter increased by 4.3%, higher than the expected value of 3.3% and the previous value of 3.8%; the annualized quarter-on-quarter revised growth rate of the core Personal Consumption Expenditures (PCE) price index in the United States for the third quarter increased by 2.9%, in line with expectations, with the previous value being 2.6%. The U.S. economy grew at its fastest pace in two years in the third quarter, thanks to the resilience of consumer and business spending and a calm trade policy. The Bureau of Economic Analysis had originally planned to release the preliminary GDP value on October 30, but the report was canceled due to the government shutdown. The agency typically releases three quarterly growth estimates—adjusting the estimates as more data becomes available—but due to the government shutdown, it will only publish two GDP reports for the third quarter (i.e., the revised value and the final value)