US Releases Updates Estimates For GDP In Q2, GDP Continues To Grow

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Today, the BEA released updated estimates for GDP in the second quarter as well as their annual revision. The report showed that GDP continued to grow at a strong pace in Q2, rising 3.0%, driven by strong consumer spending and business investment. The final annualized quarterly rate of the core PCE price index in the Q2 of the U.S. was 2.8%, which was expected to be 2.8% and the previous value was 2.80%. The number of initial jobless claims in the U.S. for the week ending September 21 was 218,000, the lowest since May 18.