US GDP Revised to 3.1% as Jobless Claims Fall

The US economy remains strong with a GDP growth of 3.1% and personal consumption rising to 3.7%. Jobless claims have decreased, influenced by the Thanksgiving holiday. However, there is a noted slowdown in manufacturing, with the Philadelphia Fed business outlook and Empire index showing declines. Prices paid have increased, while prices received have decreased, indicating varied economic pressures. Overall, the economy is stable, with changes in GDP largely due to personal consumption and a decrease in inventory levels.

What was the revised GDP growth rate for the US economy?

• 3.7%

• 3.1%

• 2.5%

• 4.0%

What was the change in initial jobless claims?

• Increased by 22,000

• Decreased by 22,000

• No change

• Increased by 10,000

What was the Philadelphia Fed business outlook index value?

• 5.5

• -16.4

• -5.5

• 0.0

How did prices paid and prices received change?

• Both decreased

• Prices paid increased, prices received decreased

• Both increased

• Prices paid decreased, prices received increased

What impact did the change in inventory levels have on growth?

• Subtracted from growth

• Doubled growth

• Added to growth

• No impact