Tuesday, November 24, 2015

Q3 GDP Revised Up to 2.1% Annual Rate

by Bill McBride on 11/24/2015 08:35:00 AM

From the BEA: Gross Domestic Product: Third Quarter 2015 (Second Estimate)

Real gross domestic product -- the value of the goods and services produced by the nation’s economy less the value of the goods and services used up in production, adjusted for price changes -- increased at an annual rate of 2.1 percent in the third quarter of 2015, according to the "second" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.9 percent.

The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, the increase in real GDP was 1.5 percent. With the second estimate for the third quarter, the decrease in private inventory investment was smaller than previously estimated ...
emphasis added
Here is a Comparison of Second and Advance Estimates. PCE growth was revised down from 3.2% to 3.0%. Residential investment was revised up from 6.1% to 7.3%.