US third-quarter GDP initial annualized quarterly rate was 3.4%, above expectations of

Why it matters to readers

GDP This is data used to observe economic growth. The initial reading this time was higher than both the estimate and the previous reading, so subsequent revisions and more complete data merit attention.

Beginners should distinguish among the initial reading, estimate, and previous reading: the initial reading is the data released for the first time on this occasion, the estimate is the forecast before release, and the previous reading is the data from the preceding period.