US: A slowdown in Q3 economic growth – Wells Fargo – by MSalordFX Growth UnitedStates Banks
previous estimate of 2.6%. Analysts at Wells Fargo, point out that the still modest growth in the core areas of the economy and weakness in real gross domestic income, more clearly demonstrates the slowdown in Q3 economic growth.“The headline continued to be flattered by a sizable gain in net exports due to an unsustainable gain in exports and decline in import activity.”
“This release also included the first look at Gross Domestic Income , which in theory should be equivalent to GDP. The two have diverged recently, but the gap in the year-ago pace of the two narrowed to just 0.4% in Q2, from 1.1% in Q2. Still, the more modest 0.3% gain in the annualized rate of real GDI for Q3 and downward revisions to Q2 which flipped a 0.1% gain to a 0.8% decline provide further evidence the economy is slowing.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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