WASHINGTON (Dow Jones) – The US economy grew slightly more than expected in the third quarter of 2023. As the Ministry of Commerce announced in an initial publication, the price-adjusted gross domestic product (GDP) rose at an annualized quarterly rate of 4.9 percent. Economists surveyed by Dow Jones Newswires had forecast 4.7 percent growth. In the second quarter, GDP rose by 2.1 percent.
The personal consumption expenditure price index (PCE deflator), the Federal Reserve’s preferred measure of inflation, increased by 2.9 (previous quarter: 2.5) percent. The GDP deflator, a broader measure of inflation, rose 3.5 percent. 2.5 percent was expected, after 1.7 percent in the previous quarter.
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(END) Dow Jones Newswires
October 26, 2023 08:44 ET (12:44 GMT)