BCREA ECONOMICS NOW US Q3 Real GDP Growth - November 7, 2013
BCREA ECONOMICS NOW
US Q3 Real GDP Growth - November 7, 2013
The preliminary estimate of Q3 US GDP came in at 2.8 per cent, resoundingly beating the consensus expectation of 1.9 per cent. However, a full 0.8 per cent of that growth was due to a build-up of inventories and this report may be noisier than usual due to the government shutdown. It is worth noting that today's release is a preliminary estimate and will be revised in subsequent months.
Stronger than expected economic growth in the United States, coupled with a decent jobs report tomorrow, could put some upward pressure on long-term bond yields, which have fallen significantly since the Fed opted to delay its quantitative easing program. Even so, we anticipate that long-term rates and therefore mortgage rates, will remain stable through the end of the year.
For more information, please contact:
Cameron Muir | Brendon Ogmundson |
Chief Economist | Economist |
Direct: 604.742.2780 | Direct: 604.742.2796 |
Mobile: 778.229.1884 | Mobile: 604.505.6793 |
Email: cmuir@bcrea.bc.ca | Email: bogmundson@bcrea.bc.ca |
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