Wednesday, March 11, 2015

Quarterly Services Survey suggests upward revision to Q4 GDP to 2.5%

by Bill McBride on 3/11/2015 12:14:00 PM

From Reuters: U.S. services data suggest upward revision to Q4 growth

The Commerce Department's quarterly services survey ... showed consumption ... increased at a faster clip than the government had assumed in its second estimate of [GDP].

Economists said the data suggested fourth-quarter consumer spending could be raised by at least six-tenths of a percentage point to a 4.9 percent annual rate ... the QSS suggested fourth-quarter GDP growth could be raised to a 2.5 percent pace from the 2.2 percent rate reported last month ...
Here is the Q4 Quarterly Services Press Release