Fiper | Advance GDP q/q

Gross domestic product is the broadest measure of economic activity and a key indicator of an economy's health
The annual percentage change (4X quarterly change) in the gross domestic product shows and indicates economic growth as a whole
Consumption constitutes the largest part of the GDP in the United States of America and has the greatest impact on it as also the numbers can be very volatile from quarter to quarter

The US economy likely grew at an annual rate of 2.4% on a quarterly basis in the three months to September 2022, rebounding from contraction in the first half of the year, which saw GDP shrink 0.6% in the second quarter and 1.6% in the second quarter. First Quarter. The trade deficit is likely to narrow in the third quarter, as weak demand affected imports of goods while retailers cut external orders to manage excess inventories. At the same time, consumer spending will appear resilient but will likely slow sharply while inventories are likely to be flat. Meanwhile, investment is seen aggressively while residential investment is expected to extend the decline for the sixth consecutive quarter, as the housing market has been hit by rising mortgage rates.

Prediction to read today and how it affects the currency

The forecast for today's reading is 2.3%.
A reading higher than expected indicates growth in the economy and positively affected the US dollar, while a reading lower than expected indicates a decline in economic growth and negatively affected the US dollar.