Third Quarter GDP Comes in As Expected

The advance look at third quarter GDP was just released, and it came in as expected. Economists expected a reading of 2.5%, and it came in at 2.5%.

The reading was sharply higher than the 1.3% in the second quarter.

Initial and continuing claims were also released. Initial claims came in at 402,000, versus expectations of 401,000. Continuing claims came in at 3.645 million, versus expectations of 3.7 million.