The US economy advanced by an annualized 2.0 % in the third quarter, following a 6.7 % expansion in the previous three-month period, slightly below analysts’ estimate of 2.7%. The core PCE price index, which excludes volatile items such as food and energy, fell to 4.5% QoQ, from 6.1% advance in the second quarter and in line with market expectations. It is the slowest growth since a record 31.2% contraction in Q2 2020, the advance estimate showed. Increases in private inventory investment, personal consumption expenditures (PCE), state and local government spending, and nonresidential fixed investment were partly offset by decreases in residential fixed investment, federal government spending, and exports. Imports also increased.
The number of Americans filling for unemployment benefits was 0.281 million in the week ended October 23, compared to 0.290 million reported in the previous week. Today’s reading came in below market expectations of 0.290 million. Continuing claims reading, which lags initial jobless claims data by one week, dropped to 2.243 million, while analysts expected decrease to 2.415 million.
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EURUSD pair rose after today's data releases and is testing resistance at level at 1.1620. Source:xStation5
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