GDP +2.9%.

GDP (3rdQ2016)

– 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%