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US third quarter GDP upward-revised to 3.9 percent

FXStreet (London) - US GDP was upward revised to 3.9 percent growth in the third quarter, up from the preliminary reading of 3.5 percent.

The release from the US Department of Commerce Bureau of Economic Analysis showed that with the second estimate for the third quarter, private inventory investment decreased less than previously estimated, and both personal consumption expenditures (PCE) and non-residential fixed investment increased more. In contrast, exports increased less than previously estimated.

The Department of Commerce The increase in real GDP in the third quarter reflected positive contributions from PCE, non-residential fixed investment, federal government spending, exports, residential fixed investment, and state and local government spending that were partly offset by a negative contribution from private inventory investment. Imports, which are a subtraction in the calculation of GDP, decreased.

The deceleration in the percent change in real GDP reflected a downturn in private inventory investment and decelerations in exports, in non-residential fixed investment, in state and local government spending, in PCE, and in residential fixed investment that were partly offset by a downturn in imports and an upturn in federal government spending.

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