US 3Q GDP Growth Rate 2.0%...Below Expectations (1st Report)

[Asia Economy Reporter Minwoo Lee] On the 28th (local time), the U.S. Department of Commerce announced that the preliminary estimate of the U.S. Gross Domestic Product (GDP) growth rate for the third quarter of this year was 2.0% on an annualized basis compared to the previous quarter. This figure fell short of the 6.7% recorded in the second quarter as well as the market forecast of 2.7% for the third quarter.