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USD: US GDP growth rate comes in at 3.2%

By Ricky Bean December 22nd, 2017

The key release of the day was the US GDP growth rate for the third quarter of 2017. Economists had predicted that it would push up from 3.1% to 3.3% but the figure came in at 3.2%, dragged back by personal consumption and net trade. It remains the highest growth rate since the first quarter of 2015, however.

Today is a surprisingly busy end to the week before Christmas, with several key data releases. We will see the durable goods orders for November as well as personal spending and income figures.

Finally, new home sales for November will be released and should give an indication of how the US economy has been performing following the spate of hurricanes that swept across the southern states a couple of months ago.