US Q3 GDP beats expectations

US Q3 GDP surprised markets today by coming in at 3.5% above the markets 3.3% consensus. This positive news comes amidst October’s stock market correction which continues to roll across global markets. GDP Gains were driven mainly by buoyant US consumer spending which is now the strongest since late 2014. Whilst this GDP print was not as strong as the 4.2% GDP figure of Q2 this still puts the Republicans in the driving seat as we head into the US mid term elections in November which will prove a litmus test for how Donald Trump’s presidency is being received by the American people.