US: Economy grows at an annualized rate of 3.2% in Q3 vs. 2.9% expected

• US GDP grew at an annualized rate of 3.2% in Q3.
• US Dollar Index holds above 104.00 after the growth data.

The US economy expanded at an annualized rate of 3.2% in the third quarter, the US Bureau of Economic Analysis' (BEA) final estimate showed on Thursday. This reading came in better than the previous estimate and the market expectation of 2.9%.

"The updated estimates primarily reflected upward revisions to consumer spending and nonresidential fixed investment that were partly offset by a downward revision to private inventory investment.," the BEA explained in its publication.

Market reaction

The US Dollar Index edged slightly higher with the initial reaction and was last seen trading flat on the day at 104.22.