U.S. third-quarter GDP growth revised to 2.9%

　　China News Agency, Washington, November 30th (Reporter Sha Hanting) The revised data released by the US Department of Commerce on November 30th local time showed that in the third quarter of this year, the US gross domestic product (GDP) grew at an annual rate of 2.9%, compared with Initial data released at the end of October was revised up 0.3 percentage points.

　　Data show that in the third quarter of this year, personal consumption expenditures, which accounted for about 70% of the total U.S. economy, increased by 1.7%, an increase of 0.3 percentage points from the initial data; non-residential fixed asset investment, which reflects the state of business investment, increased by 5.1%, which was the same as the initial data. Compared with the increase of 1.4 percentage points.

　　In addition, net exports boosted economic growth in the quarter by 2.93 percentage points, an increase of 0.16 percentage points from the initial data; private inventory investment dragged down the economy in the quarter by 0.97 percentage points.

　　Analysts believe that the increase in the US economic growth data for the third quarter is mainly due to the increase in personal consumption expenditures and export data.

In the context of the current high inflation and high prices, the strength of personal consumption is undoubtedly a "positive signal" for the short-term economic outlook.

　　According to data from the U.S. Department of Commerce, U.S. GDP fell by 1.6% and 0.6% in the first and second quarters of this year, respectively.

By convention, an economy is considered to have entered a technical recession if it has experienced two consecutive quarters of decline.

　　Some economists believe that although the U.S. economy has "avoided a recession" for the time being, it is expected that the U.S. economy may still enter a "slight recession" in the first half of next year due to factors such as the Fed's aggressive interest rate hike.

　　The Commerce Department typically makes three estimates of quarterly economic data based on constantly improving information.

The final revised GDP data for the third quarter of this year will be released on December 22.

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