The US economy expands at a 2.9% yearly pace
According to the initial estimate released on Thursday by the US Bureau of Economic Analysis (BEA), the US GDP expand at an annualized pace of 2.9% in the fourth quarter.
This number came in slightly better than the market consensus for an increase of 2.6% and followed the 3.2% growth seen in the third quarter.
“The increase in real GDP reflected increases in private inventory investment, consumer spending, government spending at all levels, state and local government spending, and nonresidential fixed investment, which were partially offset by decreases in residential fixed investment and exports. “Imports, which are deducted from GDP calculations, fell.”
Hinder of US GDP on DXY
The US Dollar gained strength versus its competitors as a result of the early market response, and the US Dollar Index became positive for the day somewhere around 102.00. Additionally, the benchmark 10-year US Treasury bond yield increased by about 2% on the day, closing at 3.51%, continuing its daily recovery.
