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Thursday, March 26, 2020

Third Estimate Q4 GDP: Remains at 2.1% Annual Rate

by Calculated Risk on 3/26/2020 08:47:00 AM

From the BEA: Gross Domestic Product, Fourth Quarter and Year 2019 (Third Estimate); Corporate Profits, Fourth Quarter and Year 2019

Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the fourth quarter of 2019, according to the "third" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP also increased 2.1 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. In the third estimate, an upward revision to personal consumption expenditures (PCE) was largely offset by downward revisions to federal government spending and nonresidential fixed investment.
emphasis added
PCE growth was revised up to 1.8% from 1.7% in the second estimate. Residential investment was revised up to 6.5% from 6.2%.

Here is a Comparison of Third and Second Estimates.