USA Real GDP grew 4.9% annualized in the third quarter, more than the median economist forecast calling for a +4.5% print. YOY, real GDP expanded 2.9%. Domestic demand grew at a very healthy clip in the three months to September, supported by household consumption (+4.0% QoQ annualized) and structure (+1.6%), intellectual property (+2.6%), and residential (+3.9%) [...]
USA Retail sales advanced 0.7% in September, overshooting the +0.3% print expected by consensus. Adding to the good news, the prior month’s result was revised upward, from +0.6% to +0.8%. Sales of motor vehicles/parts contributed positively to the headline print as they advanced 1.0% in the final month of Q3. Without autos, retail outlays rose a [...]
USA The Consumer Price Index progressed 0.4% in September, a tick more than the +0.3% print expected by consensus. Prices in the energy segment advanced 1.5% as gains for fuel oil (+8.5%), gasoline (+2.1%), and electricity (+1.3%) were only partially offset by a 1.9% drop in the utility gas services segment. The cost of food, meanwhile, [...]
USA Nonfarm payrolls rose 336K in September, blowing past consensus expectations calling for a +170K print. This positive surprise was compounded by a 119K cumulative revision to the previous months’ data. Employment in the goods sector advanced 29K on gains in both manufacturing (+17K) and construction (+11K). Payrolls in the mining/logging segment (+1K) also rose, but [...]
USA The third estimate of Q2 GDP growth came in at +2.1% in annualized terms, unchanged from the second estimate but a nick shy of the median economist forecast (+2.2%). In addition, the series of historical data has been revised down a tad. Household consumption was revised down sharply (from +1.7% QoQ annualized to +0.8%) on [...]
