GDP Expanded by a 3.5% Annual Rate, Better than Expected

TRUMP ECONOMY KEEPS ROARING …

As reported at CNBC, the U.S. economy grew at a faster-than-expected rate in the third quarter as inflation was kept in check and consumer spending surged, according to data released by the Commerce Department on Friday. The GDP rose to 3.5%, better than what economists had expected.

• Gross domestic product expanded by a 3.5 percent annual rate. Economists polled by Dow Jones expected the economy to expand by a 3.4 percent annual rate.
• The department said the PCE price index, a key measure of inflation, increased by 1.6 percent last quarter, much less than the 2.2 percent increase expected by economists polled by StreetAccount.
• Consumer spending, which accounts for more than two thirds of U.S. economic activity, grew by 4 percent in the third quarter, the strongest since the fourth quarter of 2014.

Q3 GDP up 3.5 percent vs. 3.4 percent estimate from CNBC.