Real GDP rose 3.0% in the third quarter
Real GDP rose 3.0% at an annual rate in the third quarter (modestly above forecasts) with a 0.7% point addition from faster inventory investment. Real private domestic final sales (C + fixed I in the GDP identity) increased 2.2% in the quarter and by 2.8% year-over-year. There is more than enough here to keep the Fed on track for a December rate hike and, no doubt, many in Washington will make (too) much of the 3% reading on growth.
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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