The U.S. Commerce Department released the Gross Domestic Product final estimate for the third quarter of 2011, where the economy expanded by 1.8% below median estimates and prior reading of 2.0%, as personal consumption increased by 1.7% compared with the prior reading and median estimates and of 2.3%.

The GDP price index rose by 2.6%, compared with the prior and expected rise of 2.5%, while core PCE rose in the third quarter by 2.1%, above the prior and expected estimates of 2.0%.