US Q3 economic growth revised up to 3.2%
Data showed consumer spending expanded 2.8% on a yearly basis in Q3 from an initial estimate of 2.1%, posting the fastest growth rate since the end of 2014. Despite the expansion in consumer spending, it was still slower than the 4.3% growth recorded in Q2.
Data also revealed that the export growth, which was 10.1%, was also the fastest rate recorded since Q4 of 2013.
However, the contribution of inventories to GDP growth was not as big as previously estimated and stood at 0.49%, below the 0.61% reported last month. This equaled to $7.6 billion rate in Q3, which was almost half of the $12.6 billion reported last month. This suggests that businesses are not sitting on piles of unwanted goods.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- European PE markets set for 2nd bullish month on rising costs
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem
- PE buyers’ resistance grows in SEA; duty-free origins more competitive than Mid-East
- Polymer demand cools in Turkey: Is price correction ahead for PP, PE and PVC?
- China’s rising PET trend takes a pause, but longer-term outlook remains firm
- Uptrend in China’s import PP market continues but cautious mood returns
- Hikes in Asia July PVC offers baffle some buyers, further rally under discussion