by Calculated Risk on 6/29/2017 08:39:00 AM
Thursday, June 29, 2017
Real gross domestic product (GDP) increased at an annual rate of 1.4 percent in the first quarter of 2017, according to the "third" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2016, real GDP increased 2.1 percent.Here is a Comparison of Third and Second Estimates. PCE growth was revised up from 0.6% to 1.1%. (still soft PCE, but better than the 0.3% reported in the Advance estimate of GDP). Residential investment was revised down slightly from 13.8% to +13.0%. This was above the consensus forecast.
The GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month. In the second estimate, the increase in real GDP was 1.2 percent. With the third estimate for the first quarter, personal consumption expenditures (PCE) and exports increased more than previously estimated, but the general picture of economic growth remains the same ...
Posted by Calculated Risk on 6/29/2017 08:39:00 AM