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00:00DOWN .3. THE DATA IN THE UNITED STATES DROPS NOW AND IT IS BIG. U.S. GDP FOR THE THIRD QUARTER AT 3% TO FOUR PERCENTAGE POINTS. THE PRINT IS THE PERCENT. THE ESTIMATE WAS 2.6%, PREVIOUS NUMBER 3.1%. 2.4% FOR PERSONAL CONSUMPTION. U.S. GDP THIS QUARTER WAS EXPECTED TO FLOW FROM THE -- SLOW FROM THE PREVIOUS ONE BUT WE HAVE DROPPED FROM 3.1% TO 3% FOR THE THIRD QUARTER OF U.S. GDP. IT COULD CHANGE BUT IT IS STRONG. IN THE FX MARKET, IT MEANS A STRONGER DOLLAR STORY. WE STAY THERE AND PUSH HIGHER, UP BY .5. YOU CAN CHECK OUT THE BOND MARKET, YIELDS HAVE BEEN PUSHING HIGHER WITH ABOUT ONE BASIS POINT AFTER BEING LOWER BY ONE GOING INTO THE NUMBERS, SO IT IS ABOUT A TWO BASIS POINT MOVE. FUTURES ABOUT ONE HOUR AWAY FROM THE OPEN ARE POSITIVE AND STRONG, UP .2 ON THE S & P 500. TO DISCUSS THE NUMBERS COME UP FROM PRINCETON, IRA JERSEY FOR BLOOMBERG INTELLIGENCE, AND STILL WITH US, JIM PAULSEN AND MICHAEL MCKEE, BLOOMBERG ' S INTERNATIONAL ECONOMIC CORRESPONDENT. IT IS GDP AND IT HAS A THREE IN FRONT OF IT. > > AND IT WOULD BE HIGHER IF NOT FOR HURRICANES. LOOKS LIKE THIS PLAYED OUT AS EXPECTED WITH CONSUMER SPENDING DROPPING A LITTLE BIT, PRIMARILY OR SERVICES BECAUSE PEOPLE WERE NOT ABLE TO GO OUT TO RESTAURANTS, ETC. SO YOU HAVE THAT PROBLEM. NONRESIDENTIAL STRUCTURE INVESTMENT FALLS 5.2%. A LOT OF DAMAGE TO BUILDINGS AND SHUTDOWNS OF THE OIL INDUSTRY DURING THAT TIME. THAT PLAYS OUT AS EXPECTED. GOVERNMENT CONSUMPTION DOWN .1, ALTHOUGH THE FEDERAL GOVERNMENT MADE UP A LOT OF THAT WITH THE DROP. THAT SPENDING SHOULD COME BACK. INVENTORIES HIGHER THAN WE THOUGHT AND WE SAW THAT REFLECTED IN THE MONTHLY NUMBERS OF DEALER LOTS CLEARED OUT THE CARS, SO WHOLESALERS BRINGING IN MORE. AND NET EXPORTS IS A LITTLE BIT LOWER THAN WE THOUGHT IT WAS, SO MORE OF A CONTRIBUTION FROM TRADE THAN EXPECTED. A NUMBER LIKE THIS, WHILE IT IS JUST THE FIRST PRINTED AND

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U.S. 3Q GDP Grows at 3% Rate Topping Estimates

The U.S. economy grew at three percent in the third-quarter, a faster than expected pace, on the strength of consumer and business spending. Bloomberg's Jonathan Ferro and Michael McKee examine the data on "Bloomberg Daybreak: Americas." (Source: Bloomberg)

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