US Final GDP data showed 5% growth in Q3

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Tuesday, Dec 23 2014

US GDP increased at an annual rate of 5.0% in the third quarter of 2014, according to the "third" estimate. Analysts were predicting smaller increase by 4.3%. In the second quarter, real GDP increased 4.6%. The increase in real GDP in the third quarter primarily reflected positive contributions from PCE, non residential fixed investment, federal government spending, exports, state and local government spending, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, decreased.

Separate report on Durable Goods Orders missed market expectations. While analysts were forecasting 3.0% incline, data showed unexpected 0.7% decrease. This decrease, down three of the last four months, followed a 0.3% October increase. Excluding transportation, new orders decreased 0.4%, also missing forecasts on 1.1% raise. Excluding defense, new orders decreased 0.1%.

However, good GDP figures pushed USD higher. Euro is currently being traded slightly below 1.22 handle, Sterling is around 1.5520 area, while Aussie is few points above 0.8110 level. Later today, Revised Consumer Confidence and New Home Sales figures are scheduled for a release.

More in this category: « UK Current Account deficit rose to £27.0 billion New Home Sales at an annual rate of 438,000 »

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