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Macroeconomic outlook report: USA

Third quarter of 2017

During the third quarter of 2017, USA GDP recorded an acceleration of 0.09 p.p in its y/y growth rate with respect to the previous quarter, reaching the amount of 2.30%. This behavior was explained by the positive contribution from consumer spending, inventory investment, nonresidential fixed investment, exports, and state and local government spending. In regards to the labor market, the unemployment rate remained steady at 4.30%. The dollar nominal exchange rate registered a depreciation of 0.07 dollars per euro, recording an average value of 1.17 $/€.

Macroeconomic overview

  • The US economy continued its acceleration to a y/y growth rate of 2.30%, which represents a 0.09 p.p. increase over the rate of the previous quarter. This performance was driven by positive contributions from consumer spending, inventory investment, nonresidential fixed investment, exports, and state and local government spending.
  • Domestic demand experienced an increase of 0.09 p.p. of its y/y growth rate, up to 2.44%.
  • Regarding the labor market, the unemployment rate remained steady at 4.30%. About employment, it increased its growth rate by 0.04 p.p. when compared to the previous quarter, reaching a growth rate of 1.39%.
  • The nominal exchange rate continued the depreciation trend started in 2Q17, depreciating by 0.07 dollars per euro in 3Q17. Thus, the exchange rate stood at an average value of 1.17 $/€
  • Inflation stood at 1.96%, which is 0.05 p.p. higher than in the second quarter of 2017. Among categories, energy prices had the greatest variations, with an increase of 2.93% during the third quarter of 2017.

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© GMS Management Solutions, S.L., 2018. All rights reserved. The information contained on this publication is of a general nature and does not constitute a professional opinion or an advisory service. The data used in this publication come from public sources. GMS Management Solutions, SL assumes no liability for the veracity or accuracy of such data.