Business

U.S. economy grew at an annual rate of 2.1% revised in the third quarter

According to revised government data, the US economy in the third quarter expanded at an annual rate of 2.1% instead of 2.0%. According to the Wall Street Journal poll, economists expected a 2.2% read.

The Commerce Department said Wednesday that private consumption and personal inventory investment mainly explained the upward revision.The report was a revision of Pre-quote issued last month..

Upward revisions to private consumption and private inventory investment were partially offset by exports, non-residential structures, corporate purchases of equipment and software, and downward revisions to federal spending.

Adjusted pre-tax corporate profit increased by 10.5% in the second quarter and then increased by 4.3% in the third quarter.

Going forward, economists expect US GDP to grow at an annual rate of 4.8% in the fourth quarter of 2022. These figures will be announced in January 2022.

U.S. stocks
SPX,
+ 0.17%

It was ready to fall at the start of trading on Wednesday.

U.S. economy grew at an annual rate of 2.1% revised in the third quarter

Source link U.S. economy grew at an annual rate of 2.1% revised in the third quarter

Back to top button