According to a survey, the US economy increased its pace of growth in October. The purchasing managers’ index rose by 0.8 to 51.0 points, as the financial services provider S&P Global announced on Tuesday in its monthly company survey. It is the highest value since July. The barometer is now well above the growth threshold of 50 points.
The preliminary data on gross domestic product for the third quarter will be published on Thursday. Despite the sharp increase in key interest rates in the USA, the economy is likely to have increased its growth rate in the summer. Experts surveyed by Reuters expect an increase in GDP of – annualized – 4.3 percent. This would mean the pace would more than double, after 2.1 percent in the spring.
According to the current economic report from the Federal Reserve, the economy has hardly budged in the past month and a half.