Wednesday, November 27, 2019

Q3 GDP Revised Up to 2.1% Annual Rate

by Calculated Risk on 11/27/2019 08:36:00 AM

From the BEA: Gross Domestic Product, Third Quarter 2019 (Second Estimate); Corporate Profits, Third Quarter 2019 (Preliminary Estimate)

Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the third quarter of 2019, according to the "second" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 2.0 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 1.9 percent. With the second estimate for the third quarter, upward revisions to private inventory investment, nonresidential fixed investment, and personal consumption expenditures (PCE) were partially offset by a downward revision to state and local government spending.
emphasis added
PCE growth was unrevised at 2.9%. Residential investment was unrevised at 5.1%.

Here is a Comparison of Second and Advance Estimates.