This week we review the Q3 GDP revisions from the US and UK, then we look at the October CPI data from Canada and Japan, before finishing with a summary of a selection of emerging market monetary policy decisions over the past week.
1. US Q3 GDP Revision
The US Q3 GDP was revised up to a 2.5% seasonally adjusted annualised rate from the previous estimate of 2.0%. This was ahead of expectations for 2.4%. Within the results, final demand was revised up, and net exports made a smaller negative contribution. Year on year GDP is up 3.2% vs 3.0% in the September quarter. Overall, the result is relatively strong, showing a continuation of the bounce back, and it could well gain momentum, but the more likely outcome are ups and downs over the next year.
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