– Real GDP quarter/quarter seasonally adjusted, annualized +2.9%. Previous was +1.4%
– GDP price index quarter/quarter seasonally adjusted, annualized +1.5%. Previous was +2.3%
In the context of the present weak economic data this is very positive. The last quarterly GDP higher than this was +4.96% in 3rdQ2014. This is the initial release which has only 2 months of data for all components except consumer spending.
Employment Cost Index (3rdQ2016)
– ECI quarter/quarter +0.6%. Previous was +0.6%
– ECI year/year +2.3%. Previous was +2.3%