U.S. Third-Quarter GDP Grows 3.4% While September Inflation Accelerates
The United States economy showed unexpected strength in the third quarter, with real Gross Domestic Product (GDP) expanding at an annualized rate of 3.4%. This figure surpassed market expectations, which had projected a growth rate of 3.1%. However, inflationary pressures appear to be rising alongside economic growth. The Personal Consumption Expenditures (PCE) price index is projected to increase by 0.5% in September, representing an annual rate of 3.7%. Core PCE, which excludes volatile food and energy prices, is estimated to rise by 0.3% for the month and 3.1% on an annual basis.
Topics: Economic Indicators GDP Inflation PCE Price Index
Part of the story September PCE Inflation Data Increases Expectations for December Fed Rate Hike (2 articles)