The growth of US GDP in the third quarter was revised slightly downward, according to the third reading of the data of the Ministry of Commerce, quoted by Bloomberg. US economy grew by 2%, not 2.1% as reported in late November. The first reading experts reported 1.5% GDP growth.
However, the result was above expectations of economists polled by Bloomberg, for an increase of 1.9%. During the period from April to June the US economy grew by 3.9 percent.
Although the figures are revised downwards, household consumption continues to be the engine of growth largely due to stable labor market and lower fuel prices.
Yet users themselves will be able to compensate for weakness in areas such as business investment and the negative impact of slowing global growth.
The revised data reflect a slight improvement in stock. Weak economic growth outside the US and a strong dollar outweigh exports, which deletes the 0.3 percentage points of GDP growth in the third quarter.
In the previous period, exports contributed to 0.2 percent of economic growth. Bloomberg predicted that growth in the US and the slowdown in the rest of the world may further increase the gap between imports and exports in the coming quarters.