Investing.com – Gross domestic product in the U.S. rose more-than-expected in the third quarter, expanded at the fastest rate since the third quarter of 2010, preliminary official data showed on Thursday.
In a report, the Bureau of Economic Analysis said that GDP rose by a seasonally adjusted annual rate of 2.5%, accelerating from growth of 1.3% in the preceding quarter.
Analysts had expected U.S. gross domestic product to rise 2.4% in the third quarter.
The GDP price index rose more-than-expected in the third quarter, increasing 2.5% after rising by 2.5% in the preceding quarter, outstripping expectations for a 2.4% gain.
Following the release of the data the U.S. dollar remained lower against the euro, with EUR/USD surging 1.15% to trade at 1.4067.
Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow Jones Industrial Average futures pointed to a strong gain of 1.85%, S&P 500 futures indicated a rise of 2.3%, while the Nasdaq 100 futures rallied 1.9%.
In a report, the Bureau of Economic Analysis said that GDP rose by a seasonally adjusted annual rate of 2.5%, accelerating from growth of 1.3% in the preceding quarter.
Analysts had expected U.S. gross domestic product to rise 2.4% in the third quarter.
The GDP price index rose more-than-expected in the third quarter, increasing 2.5% after rising by 2.5% in the preceding quarter, outstripping expectations for a 2.4% gain.
Following the release of the data the U.S. dollar remained lower against the euro, with EUR/USD surging 1.15% to trade at 1.4067.
Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow Jones Industrial Average futures pointed to a strong gain of 1.85%, S&P 500 futures indicated a rise of 2.3%, while the Nasdaq 100 futures rallied 1.9%.