U.S. Q3 GDP Expands 3.5 Percent; Durable Orders Decline 4.6 Percent In November

The U.S. economy expanded 3.5 percent in the 3rd quarter of 2016, according to the 3rd estimate released today by the Bureau of Economic Analysis which is based on more complete information.

Economists from briefing.com had a consensus estimate of 3.3 percent with Q3 GDP growth.

During the previous 2nd estimate of Q3 GDP, the U.S. economy grew 3.2 percent.

Durable Orders Slide In November After Rising Past 4 Consecutive Months

New orders for manufactured goods in November decreased $11 billion or -4.6 percent to $228.2 billion, according to the U.S. Census Bureau today.

Economists from briefing.com had a consensus estimate of -4.5 percent which comes after durable orders increased by +4.8 percent in October and rose during the past 4 consecutive months.

Driving the decrease was transportation equipment, which fell -13.2 percent to $76.6 billion after 4 consecutive monthly increases.

Unfilled orders for manufactured durable goods have been down five of the last 6 months and decreased $2.3 billion or -0.2 percent after rising +0.8 percent in October.

Non-defense new orders for capital goods in November decreased $15.6 billion or -19.5 percent to $64.4 billion.

Shipments decreased by $0.9 billion or -1.2 percent to $70.3 billion. Unfilled orders fell by $5.9 billion or -0.8 percent to $697.1 billion.

Written By:

John Schweitzer

@SchweitzFinance

schweitz31@gmail.com

About Johnathan Schweitzer 1388 Articles
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