Urgent - The final readings of the US GDP for the second quarter have been released.

The U.S. Bureau of Economic Analysis released on Thursday the final reading of GDP growth indicators for the country during the third quarter of the current year. The final GDP readings for the U.S. economy came in higher than initial estimates. According to the data, the United States recorded a GDP growth rate of 3.1% during the third quarter on a quarterly basis, which is higher than initial estimates that had shown a growth rate of 2.8%. The previous reading had indicated that U.S. GDP grew by 2.8% during the second quarter of the year. At the same time, the final reading of the GDP price index matched the initial estimates during the third quarter, with the index rising by 1.9%, identical to the previous reading for the second quarter, which had shown a growth in the GDP price index of 1.9%. On another note, the data showed that the Personal Consumption Expenditures Index – the preferred inflation measure of the U.S. Federal Reserve – grew by 2.2% during the third quarter compared to the previous quarter, which is higher than market expectations of 2.1% and the previous reading recorded in the second quarter, which was 2.1%. This statement reflects the monetary value of all goods and services produced by the country during a specific period on a quarterly basis. It also measures market activity as it indicates whether the economy is growing or not. This index is considered a comprehensive measure of economic activity, and investors monitor economic performance as it illustrates investment performance. It's noteworthy that the components of gross domestic product include consumer spending, resident investments, and inflation, which reflect the current economic conditions.