US Q3 GDP second reading +3.2% q/q annualized vs +3.0% expected

• The first reading was +2.9%
• Best quarter since Q3 2014
• Q2 was at +1.4%

Details

• Personal consumption 2.8% vs 2.3% exp
• Prior consumption 2.1%
• Final sales 2.7% vs 2.8% exp
• Business investment +0.1% vs +1.2% initially reported
• Business investment in equipment -4.8% vs -2.7% initially reported
• Exports +10.1% vs 10.0% initially reported
• Imports +2.1% vs +2.3% initially reported
• Inventories +$7.6B vs +$12.6B initially reported
• Inventories added 0.49 pp to GDP
• Corporate profits after tax +7.6% vs -1.9% in Q2