US Final Third-Quarter GDP Report
All eyes are on the final report of US third-quarter economic growth, scheduled to be released on Thursday, December 21, 2017 at 08:30 GMT. Gross Domestic Product (GDP) is the broadest measure of economic activity and the primary gauge of the economy’s health.
In the previous estimate released on November 29th, US third-quarter growth was revised to a three-year high of 3.3% and was also higher than the second quarter’s growth rate of 3.1%.
Although the report was much appreciated by the markets, Bloomberg reported that economists consider such a pace to be unsustainable and expect US growth to slow down in 2018.
How will this report affect the markets?
Economic growth is one of the key indicators followed by investors as it has a direct impact on other major factors such as consumer and business confidence.
A lower reading than expected will certainly weigh on the U.S. dollar, while a stronger figure could send the greenback sharply higher.
Previous GDP: 3.3% growth rate / Forecast: 3.2% growth rate
Source: AvaTrade Broker
Tags : GDP Gross Domestic Product (GDP)