US Third-Quarter GDP Advance Estimate Rises 3.4%, Beating Forecast by 0.2 Percentage Point
JOON HYOUNG LEE
Summary
- The Commerce Department said its advance estimate showed U.S. gross domestic product (GDP) growth at 3.4% in the third quarter.
- U.S. economic growth in the third quarter topped market forecasts.
- The U.S. releases GDP growth figures three times: advance, revised and final.
Forecast Trend Report by Period
U.S. economic growth in the third quarter topped market expectations.
The Commerce Department said on October 29 that its advance estimate showed gross domestic product rose at a 3.4% annualized rate from the previous quarter in the third quarter.
The U.S. releases GDP growth figures in three stages: advance, revised and final. Unlike South Korea, it reports GDP data as an annualized rate based on quarter-over-quarter growth.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul