Third quarter estimates of economic activity came in better than expected.
The estimated growth in the third quarter came in above expectations. The Advance Report , subject to large change with more complete data, was released at 3.5%. This follows the 4.2% growth reported for the second quarter. The two quarters together represent the best six month period since 2014. The third quarter growth was driven by personal consumption expenditures increasing by 4.0% as compared to 3.8% in the second quarter, government spending rising by 3.3% as compared to 2.5% and inventory build of $76.3 billion as compared to a decline of $36.8 billion in the second quarter.
ProBank Austin Advisor - October 29, 2018