Q3 2013 preliminary GDP report 27 October 2017
- Prior 3.1%
- PCE 1.5% vs 1.2% exp. Prior 0.3%
- Core PCE 1.3% vs 1.3% exp. Prior 0.9%
- Deflator 2.1% vs 1.8% ex. Prior 1.0%
- Sales 2.3% vs 2.6% exp. Prior 2.9%
- Consumption 2.4% vs 2.1% exp. Prior 3.3%
Better than expected and the commerce dept say that the hurricane impact from Harvey and Irma are included but not Maria.
Looking into the numbers and;
- Exports 2.3% vs 3.5% prior
- Imports -0.8% vs 1.5% prior
- Biz investment 3.9% vs 6.7% prior
Overall, it’s a mixed bag. The headline will; calm nerves but consumer spending and investment is weaker. That may get the weather excuse treatment but we’ll only know that in the next revision. The dollar rallied initially but has since fallen back. The big 114.30/50 area stays solid for now.