According to the BEA, US Gross Domestic Product (GDP) grew at a 3.3% QoQ (Annualized) pace, the highest since 2014.
But what drove the rise in Q3 GDP growth of 3.3%? It wasn’t personal consumption expenditures (PCE) that actually fell from 3.3% in Q2 to 2.3% in Q3. The big contributer was gross private domestic investment that rose from 3.9% in Q2 to 7.3% in Q3.
This post was published at Wall Street Examiner on November 29, 2017.