Weekly Economic and Financial Commentary – 23 December, 2019
Final estimate of the US Q3 2019 GDP released last week showed the economy grew by 2.1% YoY compared to 2% and 2.9% YoY in Q2 19 and Q3 18 respectively. The slower growth over Q3 was driven by deceleration in personal consumption expenditure (3.2% YoY vs 4.6% YoY in Q2 18), fixed investment spending (1.1% YoY vs 6.4% YoY in Q2 18), public sector spending (1.7% YoY vs. 4.8% YoY in Q2 18) and contraction in the external sector (imports grew 1.8% compared to 1% growth in exports).
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