US: GDP expanded 1.6% in the third-quarter vs. 1.9% expected

According to the first estimate of the United States (US) Bureau of Economic Analysis, the real Gross Domestic Product (GDP) in the third quarter expanded 1.6% on a quarterly basis following the 2.6% recorded in the second quarter and fell short of the market expectation of 1.9%.

On a yearly basis, however, the GDP grew 1.9% to beat the market expectation of 1.7%.

With the initial market reaction to the data, the US Dollar Index edged higher and was last seen adding 0.04% on a daily basis at 97.72.