US Equity and Economic Review: A Stronger 3Q GDP Report But Weaker Market

     On Friday, the BEA released the first estimate of 3QA GDP.  The headline rate was 2.9% — a welcome change from the previous 3 quarters.  However, this marked the 8th consecutive quarter below 3%:      PCEs continued their strength: Durable goods purchases (blue) increased strongly for the second consecutive quarter.  Service expenditures (green) maintained their recent pace.  But nondurable goods (red) spending was weak.      Investment spending was mixed: Equipment spending contracted for the 4th consecutive quarter.  But nonresidential structures (purple) increased for the first time in 5 quarters.  Residential spending (green) was flat.      Several areas supported growth:…

Source: XE news feed
US Equity and Economic Review: A Stronger 3Q GDP Report But Weaker Market