États-Unis Croissance Du Pib

The US economy expanded an annualized 3.1% in the third quarter of 2024, higher than 2.8% in the second estimate and above 3% in Q2. It is the biggest growth rate so far this year. Personal spending increased at the fastest pace since Q1 2023 (3.7% vs 3.5% in the second estimate). It was boosted by a 5.6% surge in consumption of goods (vs 5.6% in the second estimate) and a robust spending on services (2.8% vs 2.6%). Also, fixed investment rose more than anticipated (2.1% vs 1.7%). Investment in equipment soared (10.8% vs 10.6%) while structures (-5% vs -4.7%) and residential investment (-4.3% vs -5%) declined. Government consumption growth was also revised higher to 5.1% (vs 5%). In addition, the contribution of net trade was less negative (-0.43 pp vs -0.57 pp in the second estimate), with both exports (9.6% vs 7.5%) and imports (10.7% vs 10.2%) revised higher. On the other hand, private inventories dragged 0.22 pp from the growth, compared to a 0.11 pp drop in the second estimate.