by Calculated Risk on 11/27/2019 08:36:00 AM
Wednesday, November 27, 2019
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.PCE growth was unrevised at 2.9%. Residential investment was unrevised at 5.1%.
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.
Here is a Comparison of Second and Advance Estimates.
Posted by Calculated Risk on 11/27/2019 08:36:00 AM