US Q3 GDP acceleration due to inventory build but final domestic demand remains weak | Eurobank
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US Q3 GDP acceleration due to inventory build but final domestic demand remains weak

• Real GDP accelerated to 2.8% q-o-q saar in Q3 from 2.5% in Q2 2013, on the back of higher inventory accumulation and stronger net exports.
• We remain cautious on the apparent US economic acceleration, given that final domestic demand growth actually slowed from 2.1% in Q2 to 1.7% in Q3.
• Core growth categories of private consumption and investment have been relatively weak, owing to a restrictive fiscal policy and a generalized economic and political uncertainty that made households and businesses more reluctant to consumer and invest, respectively.