Latest US Q3 GDP update!

 US Q3 GDP: 3.1%

Let's break down the GDP components to see what has happened.

GDP growth = Government spending + Investment + Consumption + Net Export

Q3 GDP (1st estimate) = 0.85 + 0.07 + 2.46 + (-0.56) = 2.82 (2.8)

Q3 GDP (2nd estimate) = 0.83 + 0.21 + 2.37 + (-0.57) = 2.84 (2.8)

Q3 GDP (Final estimate) = 0.86 + 0.16 + 2.48 + (-0.43) = 3.07 (3.1)

We can see that the G & C have increased but the I & NE have declined and the improvements outweigh the declines and the overall GDP has increased to 3.1%.

What do these changes show?

This shows that the external environment (global trade) is not improving and the US GDP is supported by domestic conditions.