Friday, December 20, 2019

Q3 GDP at 2.1% Annual Rate

by Calculated Risk on 12/20/2019 08:35:00 AM

From the BEA: Gross Domestic Product, Third quarter 2019 (third estimate); Corporate Profits, Third quarter 2019 (revised estimate)

Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the third quarter of 2019, according to the "third" 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 "second" estimate issued last month. In the second estimate, the increase in real GDP was also 2.1 percent. With the third estimate for the third quarter, upward revisions to personal consumption expenditures (PCE) and nonresidential fixed investment were offset by a downward revision to private inventory investment.
emphasis added
PCE growth was revised up to 3.2% from 2.9% in the second estimate. Residential investment was revised down to 4.6% from 5.1%.

Here is a Comparison of Second and Advance Estimates.