Someone yells, “wow!” off camera at Fox Business as the GDP in the third quarter comes in at a whopping 4.9%.
the GDP is out. I want to get right now to Jerry Willis and get that breaking news. Yeah, Maria, that's right. We've got GDP at 4.9%. That is the first street on third quarter GDP. That is a surprise on the upside. We had been expecting consensus was 4.3%. You can see that's a big positive number. The Dow continues in negative territory ahead of the open here. Look at this. 4.9% is well over twice second quarter GDP, which was 2.1% first quarter GP GDP 2% so you can see some really strong expansion here, mostly due to consumers, as you've been talking about right now. Retail sales, of course, have been strong. Looking in the rear view mirror, there was one stronger forecast out there. The Atlanta Fed. Their GDP now forecast was 5.4% for the quarter. This quarter, of course, July to September GDP, the broadest read on economic growth. But wow, what a stunner. Actual coming in at 4.9% Maria.
