3Q GDP revised

In my posting on the September trade data, I mentioned that the 3rd quarter GDP numbers would probably be revised in light of the great than estimated trade deficit. Well, they have been. BEA announced this morning GDP grew by 2.8% in the 3rd quarter, not the 3.5% reported in the advance estimate (see earlier posting). The third estimate is due out December 22. I don’t anticipate as big a revision next time.

3Q2009GDPseondestimate.gif

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