September 27, 2007

Final GDP Growth for Second Quarter: 3.8%

Filed under: Economy, Taxes & Government — TBlumer @ 8:42 am

Recap:
- The advance estimate in July was 3.4%.
- The preliminary estimate in August was 4.0%.

Expectations are for a slight pullback to 3.8% (scroll down most of the way) or 3.9%.

Final Result: 3.8%

Most valuable contributor: Nonresidential construction, up 27.7% (annualized)

Biggest drag: Residential construction, down 11.6% (annualized)

Overall: a good quarter, after four mediocre ones.

Looking ahead: Old Media’s preconceived notion that the 3rd quarter has slipped significantly is by no means a foregone conclusion.

2 Comments

  1. If the economy is doing so poorly as the MSM claims, then why did tax receipts increase by $96 billion from the 4th qtr of 2006 to the 2nd qtr of 2007?? On Oct 31 we should have preliminary info on the 3rd qtr. http://www.bea.gov/bea/dn/nipaweb/TableView.asp?SelectedTable=84&FirstYear=2004&LastYear=2006&Freq=Qtr&3Place=Y update table to included 2007.

    Comment by dscott — September 27, 2007 @ 9:21 am

  2. Also, the ISM reports are all in pretty decent expansion mode, and car sales (except Ford) have picked up.

    Comment by TBlumer — September 27, 2007 @ 9:32 am

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