Jumpin’ GDP: 3rd Quarter Revised to 2.2% from 1.6%
A bit of an early Christmas present, I’d say.
It looks like the biggest contributors to the upward revision were bigger increases in the private investment categories other than residential housing.
I’ll take it, especially given that my guesstimate of an upward revision to about 2.0% has already been exceeded. I expect the final revision near the end of December to be no more than a couple of tenths of a percentage point either way.
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UPDATE: “Expectations” were for an increase to only 1.8%.
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