The preliminary annualized Gross Domestic Product (GDP) of the United States is up 2.6% in the third quarter of 2022, two tenths above the expected 2.4%. The figure improves the negative results of the first and second quarters, when it fell 1.6% and 0.6% respectively.
The increase in the third quarter mainly reflected increased exports and consumer spending, which was partially offset by lower housing investment.
The GDP price index has increased by 4.1%, below the previous 9.1% and the estimated 5.3%.
EUR/USD reaction
The EUR/USD fell nearly 65 pips after the ECB statement, which announced an interest rate hike of 75 basis points to 2%. The pair hit fresh daily lows at 0.9985, but on US data has regained some ground, trading near 1.0015 at time of writing, still down 0.63% on the day.
Source: Fx Street
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