US: Q3 GDP grows by 2.1%, versus 2.1% expected

The US economy grew at an annualised QoQ pace of 2.1% in Q3 2021.
The DXY saw momentary weakness but has now reversed back to close to highs of the day in the 96.80s.

Joel Frank Independent Analyst

According to a second estimate from the US Bureau of Economic Analysis (BEA), the US economy grew at an annualised QoQ pace of 2.1% in Q3 2021, in line with expectations. That markets a 0.1% upwards revision from the first estimate of the pace of Q3 GDP growth released back in October.

Market Reaction

The DXY saw a very minor dip at the time of the data release, though this has now reversed and the index is back in the 96.80s and close to highs of the day. A few other US data points were released at the same time as the US GDP numbers, with a surprise dip being seen in Durable Goods Orders MoM in October. This may have temporarily weighed on the dollar. The weekly jobless claims report, also released at 1330GMT, was very strong, however.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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