U.S. economy grows by 4.3% in third quarter, much more than expected, delayed report shows

Rick Santelli (On-air Editor) 00:01.260

welcome back to squawk box rick santelli here live at CME HQ with some delayed but very important data points we'll be looking at october preliminary durable goods philly fed and GDP second time around the block delayed third quarter numbers we're looking for three point three

Rick Santelli (On-air Editor) 00:19.220

zoom zoom zoom four point three percent four point three percent that is a nice jump and i know many may question data gathering but on the surface this would be the strongest quarter going back to the third quarter of twenty twenty three when it was four point seven this is

Rick Santelli (On-air Editor) 00:38.910

strong three point five on consumption blows away the two point seven we were expecting that would be the best since the last quarter of twenty four on the price index here's some not good news three point eight percent on the price index that's much higher than two point seven

Rick Santelli (On-air Editor) 00:55.870

we're looking for much higher than two point one in the rear view mirror that would equal first quarter of twenty three to find a higher price structure you'd have to go to the last quarter of twenty twenty two when we had three point nine percent now if you look at core a

Rick Santelli (On-air Editor) 01:12.390

different story the price index was warm core well as expected but still warm two point nine is what we were looking for a quarter of a quarter personal consumption expenditure price index now issue is two point six was our last look so it's up three tenths two point nine well

Rick Santelli (On-air Editor) 01:31.670

two point nine would be the warmest since we're at three point three and just the first quarter of this year now let's go to philly fed non manufacturing comes in at minus sixteen point eight that is actually very close to expectations that would be the weakest read since

Rick Santelli (On-air Editor) 01:47.470

october 's minus twenty two now let's go to durable goods these numbers are october preliminary minus two point two percent we're expecting minus one and a half percent that would be the weakest durable goods outlook since july of this year and if we look at X transportation

Rick Santelli (On-air Editor) 02:06.150

well it definitely improves close to expectations up two tenths of a percent up two tenths well we're up six tenths our last look which now got upgraded to up seven tenths to give you an idea up two tenths is actually the weakest quarter going back to unchanged quarter and that

Rick Santelli (On-air Editor) 02:25.150

was in april of twenty five april of twenty five let's look at non defense ex air this is a proxy for capital spending coming in up half of one percent better than expected very solid revision in the rearview mirror to up one point one up one point one would comp to may when it

Rick Santelli (On-air Editor) 02:43.630

was up one point nine up point five well up zero point five would be actually the weakest going back to minus one point five in april but still a solid number and finally let's go to shipments on the shipment site up seven tenths this is good news things are moving again this is

Rick Santelli (On-air Editor) 03:01.670

multiples of the up three tenths we're looking for and in the rearview mirror a very healthy revision from up nine tenths to up one point two after all of that what's going on well interest rates are to the upside a bit and that may have something to do with the pricing index on

Rick Santelli (On-air Editor) 03:17.510

the negative news side but on the positive news side better GDP is always good we'll let the experts pick apart the day the gathering and all the issues overtime that should smooth out but as i said on the surface powerful number the pre opening equities haven't really responded

Rick Santelli (On-air Editor) 03:34.670

much dow jones was down the dow futures was down about twenty before the data release it's now down about thirty seven real quickly gang should we close here in the dollar index would be a two and a half month low back to you