The US Q3 2024 GDP has underperformed its Q2 GDP.

US Q3 GDP: 2.8% 

Let's break down the Q3 GDP to see what are the changes compared to Q2.

GDP = G + I + C + NE

Q2 GDP (Final estimate) = 0.52 + 1.47 + 1.9 + (-0.9) = 2.99 (3)

Q3 GDP (First estimate) = 0.85 + 0.07 + 2.46 + (-0.56) = 2.82 (2.8)

We can see that the government spending (0.85), consumption (2.46) and net export (-0.56) have improved from Q2 GDP but the investment (0.07) has a significant drop that wipes out all the improvements.  This denotes that the investment climate in the US is deteriorating massively.

However, we have our doubts about the veracity of the US GDP, particularly the consumption and net export.  The US GDP subcomponent (net export) doesn't sync with the deteriorating BDI (see below).

https://sg-stock.blogspot.com/2024/10/baltic-dry-index-1410.html

We had stated previously that the US couldn't hide its slowing economy soon.

https://sg-stock.blogspot.com/2024/10/the-us-cant-hide-its-slowing-economy.html