The US economy is expected to expand by 19.1% in the third quarter, the Federal Reserve Bank of Philadelphia’s latest survey showed on Friday. This figure followed a 10.6% growth forecast announced in the previous survey.
Additional takeaways
“Us Q4 GDP growth seen at +5.8% vs previous forecast of +6.5%.”
“Payrolls seen growing average 2,068,600/month in Q3 vs previous forecast of 2,328,900/month.”
“Payrolls seen growing average 398,500/month in Q3 vs previous forecast of 900,900/month.”
“Q3 unemployment rate seen at 10.0% vs previous forecast of 12.9%.”
“Q4 unemployment rate seen at 9.5% vs previous forecast of 11.0%.”
Market reaction
The US Dollar Index edged slightly higher in the last minutes and was last seen losing 0.09% on the day at 93.17.
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