Latest GDP and Inflation Data Suggest Moderation in US Economy

The US economy showed signs of slowing in the third quarter, with key indicators coming in below expectations. Gross domestic product (GDP) grew at an annualized rate of 2.8%, missing the 2.9% forecast and marking a decline from the prior quarter's 3.0% expansion.

Meanwhile, the personal consumption expenditures (PCE) index, the Federal Reserve's preferred inflation gauge, rose 1.5% - well below the 2.7% estimate and the previous quarter's 2.5% increase. Core PCE, which excludes volatile food and energy prices, increased 2.2%, slightly higher than the 2.1% forecast but down from 2.8% in the prior period.

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