Source: Bureau of Economic Analysis
The US recorded an annual gross domestic increase of 2.3% in the third quarter, below the second quarter expansion of 6.7% but above the estimated 2.1%. DXY is down -0.26%, SPY is up +0.065%.
- The slowdowns in the third quarter GDP reflects an economic slowdown caused by the resurgence of Covid-19 infections.
- In current dollar terms, the national output rose by an annual rate of 8.4% or $461.3 billion to reach $23.20 trillion, a slower expansion compared to 13.4% in the second quarter.
- The price index for the gross domestic purchases ticked higher by 5.6%, slower than the 5.8% increase recorded in the second quarter. The PCE price index also cooled to 5.3% from 6.5%, with the gauge up 4.6% without including food and energy prices, down from the previous 6.1%.
- Real gross domestic income improved by 5.8%, up from a gain of 4.3% in the second quarter. Profits from current production eased to a $96.9 billion increase, from $267.9 billion in the second quarter.
- Domestic financial corporations posted a profit increase of $14.2 billion, down from a jump of $52.8 billion in the second quarter. Domestic nonfinancial corporations also saw profits increase at $31.6 billion, down from $221.3 billion, but the rest-of-the-world profits recovered from a decline of $6.2 billion to a $51.1 billion gain.