Fiper | Prelim GDP q/q

Gross domestic product is the broadest measure of economic activity and a key indicator of an economy's health
Annual percentage change (4X quarterly change) in GDP shows and indicates economic growth as a whole
Consumption makes up the largest part of the gross domestic product in the United States of America and has the greatest impact on it. Also, the numbers can be very volatile from quarter to quarter.
The US economy grew at an annualized rate of 2.6% on a quarterly basis in the third quarter of 2022, beating expectations for a 2.4% rise and rebounding from contraction in the first half of the year. The largest positive contribution came from net trade (2.77 points vs. 1.16 points in the second quarter), as the trade gap narrowed. Imports fell 6.9% (vs. +2.2%) while exports increased 14.4% (vs. 13.8%), led by petroleum products, non-mechanical capital goods, and financial services. At the same time, non-residential investment jumped 3.7% (vs. 0.1%), supported by increases in equipment and intellectual property. On the other hand, residential investment fell for the sixth quarter (-26.4%) as the housing market was hit by higher mortgage rates. Finally, consumer spending grew at a slower pace (1.4% vs. 2%) but remained resilient as higher spending on services (led by healthcare) offset declines in goods, specifically automobiles and food and beverages. Also, withdrawals from private stocks were smaller (-0.7 pp vs -1.91 pp)

Outlook for today's statement and how it will affect the currency

The forecast for today's reading is 2.8%.
A higher-than-expected reading indicates growth in the economy and was positively affected by the US dollar, while a lower-than-expected reading indicates a decline in economic growth and was negatively affected by the US dollar.