Financial News: U.S. GDP Unexpectedly Surges More Than Previously Estimate

U.S. GDP Unexpectedly Surges More Than Previously Estimated In Q3

12/19/2024 - 08:38:00 (RTTNews)

(RTTNews) - The Commerce Department released a report on Thursday showing the pace of U.S. economic growth unexpectedly surged by more than previously estimated in the third quarter.

The report said gross domestic product shot up by 3.1 percent in the third quarter, reflecting an upward revision from the 2.8 percent jump previously reported. Economists had expected the pace of growth to be unrevised.

The Commerce Department said upward revisions to exports and consumer spending offset a downward revision to private inventory investment and an upward revision to imports, which are a subtraction in the calculation of GDP.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Deteriorates More Than Previously Estimated In January (11 hr(s), 54 min(s) ago)
(RTTNews) - Revised data released by the University of Michigan on Friday showed consumer sentimen ...Full Story»

Eurozone Private Sector Grows In January (12 hr(s), 19 min(s) ago)
(RTTNews) - Euro area private sector returned to growth in January as the contraction in manufactu ...Full Story»

U.S. Existing Home Sales Jump Much More Than Expected In December (12 hr(s), 29 min(s) ago)
(RTTNews) - A report released by the National Association of Realtors on Friday showed existing ho ...Full Story»

Slovenia Consumer Confidence Weakens Slightly (13 hr(s), 40 min(s) ago)
(RTTNews) - Slovenian consumers remained slightly more pessimistic at the start of the year, figur ...Full Story»

Hungary Jobless Rate Falls To 4.4% (14 hr(s), 10 min(s) ago)
(RTTNews) - Hungary's unemployment rate increased during the October-December period, data fro ...Full Story»

Taiwan Q4 GDP Growth Eases To 1.84% (14 hr(s), 39 min(s) ago)
(RTTNews) - Taiwan's economy continued to expand in the final quarter of 2024, though at the ...Full Story»

UK Private Sector Logs Further Marginal Expansion (15 hr(s), 06 min(s) ago)
(RTTNews) - The UK private sector activity expanded at the fastest pace in three months in January ...Full Story»

Spain Producer Prices Rise 2.3% In December (16 hr(s), 14 min(s) ago)
(RTTNews) - Spain's producer prices increased for the second straight month in December amid a ...Full Story»