US Q3 advance GDP 3.0% vs +2.6% expected




The first look at third quarter 2017 u.s. growth

  • The estimates vary from +1.8% to +3.6%
  • Q2 reading was +3.1%
  • The personal consumption of +2.4% versus +2.1% expected
  • Before the personal consumption of +3.3%
  • GDP price index +2.2% vs +1.7% exp
  • GDP deflator +2.1% against +1.8% in exp
  • Core PCE +1.3% vs +1.3% exp

It is very strong nominal growth due to the increase of the consumer price index. This is a cheers to the Fed for a rate hike in December, and keep the «gradual» pace in March, maybe more if Taylor gets the top job.

Details:

  • Final sales +2.3% vs +2.6% exp
  • The consumption expenditure of durable goods (+8.3%
  • Business investment +3.9%
  • The investment in the equipment of +8.6%
  • The investment in intellectual property +4.3%
  • The investment house -6.0%
  • Business investment in structures -5.2%
  • GDP ex motor vehicles +3.5%
  • Inventories added 0.73 pp of GDP
  • Department of Commerce said that he could estimate the overall impact of the hurricanes

The number of inventory welcome to relax in the future, so this is a bit of bad news, but real estate investment is the reverse of the medal. It is low for two quarters, but with the price of houses high, he will not remain low, so that should be a tailwind in Q4 and beyond.



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