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

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.