The U.S. Commerce Department released the advanced Gross Domestic Product estimate for the third quarter of 2011, where the U.S. economy expanded by 2.5%, compared with the prior expansion of 1.3% in the second quarter and in line with median estimates, while personal consumption rose by 2.4%, better than the prior and expected estimates of 0.7% and 1.9% respectively.

The GDP price index for the third quarter remained unchanged at 2.5% and was slightly higher than median estimates of 2.4%. Core CPE rose in the third quarter by 2.1%, compared with the prior rise of 2.3% and slightly below median estimates of 2.2%.