US GDP Information Disappoints as Client Spending Slows in Q3

The advance determine (first estimate) of Q3 US GDP got here in at 2% after expectations of two.7% proved barely optimistic.

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The decrease than anticipated determine has been attributed to slower shopper spending as authorities help funds to companies, state and native authorities and households all decreased.

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Supply: US Bureau of Financial Evaluation

The information comes off the again of the Q2 print of 6.7%. The rise in second quarter GDP mirrored the continued financial restoration, reopening of institutions, and continued authorities response associated to the COVID-19 pandemic.

The preliminary response to within the US dollar noticed barely decrease costs however nothing exterior of the every day vary.

US Greenback Index 15 Minute Chart

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Chart ready by Richard Snow, IG

— Written by Richard Snow for DailyFX.com

Contact and observe Richard on Twitter: @RichardSnowFX

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