The growth of the US economy in the third quarter was revised upwards, as well as consumer spending, according to the official data released on Tuesday.
According to the second estimate, the US GDP growth in the third quarter was 3.2%, the rate being revised from the previous estimate of 2.9%.The largest quarterly GDP growth was recorded in the second quarter of 2015 (3.9%).
Analysts had expected a smaller upward revision - only to 3.0%.
The growth of personal consumption expenditures in July-September amounted to 2.8% compared with the original 2.1%.
The GDP price index was revised down to 1.4% from an initial 1.5%, although economists did not expect changes.
Meanwhile, corporate profits increased by 7.6% compared to the preliminary reduction by 1.9%.
The composite index of the cost of housing – S&P/CS Composite-20 (USA) for the last quarter remained unchanged, contrary to expectations. This is confirmed by the official data released on Tuesday.
According to the report prepared by Standard & Poor's agency, this figure (annualized seasonally adjusted) was 5.1% compared with 5.1% in the previous quarter, while the experts had expected a growth of the rate to 5.2%.
The US index of consumer confidence by CB rose more than expected last month. This is evidenced by the data released on Tuesday. According to the report prepared by the company Conference Board, the index (seasonally adjusted) was 107.1 compared with 100.8 in the previous month. These data have been revised upwards from 98.6. The experts expected a growth to 101.2.
Commenting on the data, the director of the research center Conference Board Lynn Franco said: "Consumer confidence improved in November, after a moderate decline in October and again kept at pre-crisis level. A more favorable assessment of current conditions coupled with a more upbeat assessment of the short-term prospects increased the index", - she explained.
The USD index, which shows the relationship of the US dollar against a basket of major currencies, was held at 101.39 compared with 101.30 before the data release.
In the US stock markets, Dow 30 fell 0.10%, S&P 500 fell 0.03%, while the Nasdaq Composite Index has not changed.