US GPD up 2.2% in 3Q, yet under forecast

By IBTimes Staff Reporter | December 22 2009 8:48 AM

FXstreet.com (Barcelona) - The US Gross Domestic Product grew at an annual rate of 2.2% for the third quarter of 2009, coming in below more optimistic forecasts of 2.8%.

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Despite the disappointing results, the GPB climbed from -0.7% registered in the second quarter, and this quarter' reading was its strongest in almost two years.

In other data released by the US Department of Commerce, the Gross Domestic Purchasing Index grew 1.3%, ahead of predictions which had it holding steady at the 0.5% registered during the previous quarter, while the Real Personal Consumption Expenditures improved to 2.9%, compared to -0.9% seen in the second quarter.

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