In a somewhat surprising turn of events, data released earlier today about the GDP of the United States for the third quarter indicates some pessimism about the state of the American economy.
In the second quarter of 2017 the economy expanded at a rate of 3.1% and it was predicted it will rise up to 3.3% for the third quarter. Instead, estimates indicate a growth of 3.2%. Inflation also appeared weaker at 1.5% against the forecasted 1.6%. The GDP price index was also a decimal unit away at 2.1% instead of 2.2%.
Overall, this shows that while the American economy is still in a very good state objectively speaking, it is not as healthy as predicted. The next GDP evaluation will be released on January 26, so until then we might see some more insecurity, especially considering the quiet times around the holidays.
Pairs such as the EUR/USD and GBP/USD marked increases after the news was published. The dollar index was also lower at 92.97.
