The U.S. Bureau of Economic Analysis (BEA) released its advance look at Q3 2021 GDP last Thursday (Oct. 28), with the projected annual growth rate of 2% below analysts’ expectations for a figure in a range of 2.8% to 3.5%. The 2% growth rate was also well below the 6.7% increase in the second quarter.
The BEA said,
Note: Seasonally adjusted at annual rates.
Source: U.S. Bureau of Economic Analysis
Barron’s wrote about the GDP release,
Bespoke Investment Group noted,
Source: Bespoke Investment Group
Against the backdrop of slowing domestic growth in the U.S., Q3 2021 earnings so far have been solid.
As of the end of last week (Oct. 29), FactSet’s key metrics for the Q3 earnings season include the following observations:
Note: The Energy sector is coming off a loss in Q3 2020, preventing a mathematical projection for earnings growth.
FactSet has found a large earnings differential dependent on international exposure, stating,
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