Data Analysis: Real GDP rose 3.5% in Q3
Real GDP rose 3.5% at an annual rate in the third quarter and real growth (measured by expenditures) continues to strengthen as the year-over-year growth rate has risen steadily from a trough of 1.3% in the second quarter of 2016 to 3.0% in the third quarter of this year. As we expected, the growth-inflation mix in the third quarter was better than consensus expectations; however, the consumption-investment split was less favorable for the supply side. Our preferred measure of underlying spending—private domestic final sales (C+ fixed I)—rose at a 3.1% rate in the quarter and by 3.4% over the last four quarters.
RDQ Economics provides global macroeconomic consulting services with an emphasis on U.S. economic fundamentals and monetary policy.
Our views are driven by consistent application of classical economic and monetary principles and has generated superior anticipation of changes in the stance of monetary policy and of movements in economic growth and inflation.
The founders of RDQ Economics, John Ryding and Conrad DeQuadros, have a combined experience of 26 years on Wall Street, 12 years of experience in central banking at the Federal Reserve and the Bank of England and nine years in the independent research space. John and Conrad have worked closely with fixed income, foreign exchange, and equity traders and portfolio managers, which has enabled their analysis and advice to be tailored to a clientele that is focused on trading and investment decisions.
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