Market Updates
U.S. GDP Accelerates to 2.6% in Third Quarter
Brian Turner
27 Oct, 2022
New York City
U.S. GDP in the third quarter rose at an annual rate of 2.6% after falling for two quarters in a row, according to the report released by the Bureau of Economic Analysis Thursday.
The GDP rebounded from the 0.6% decline in the second quarter after improvement in net international trade helped the economy to rebound, supported by resilient consumer spending and a rise in business investment.
Bond yields fell sharply after the BEA report showed a marked decrease in growth in the price index, a measure of inflation.
The PCE price index increased 4.2% from 7.3% and excluding food and energy prices, the index increased 4.5% from 4.7% in the second quarter.
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