by Bill McBride on 11/23/2010 08:30:00 AM
Tuesday, November 23, 2010
From the BEA: Gross Domestic Product, 2nd quarter 2010 (second estimate)
The upward revision came from PCE (revised up from 2.6% to 2.8%), from net exports (added 0.25 percentage points to growth), and state and local government expenditures (revised up from -0.2% to 0.8%).
As expected, non-residential structure investment was revised down from 3.9% to -5.7%.
Click on graph for larger image in new window.
This graph shows the quarterly GDP growth (at an annual rate) for the last 30 years. The current quarter is in blue.
The dashed line is the median growth rate of 3.05%. The current recovery is still below trend growth.