by Calculated Risk on 10/28/2021 08:33:00 AM
The increase in real GDP in the third quarter reflected increases in private inventory investment, personal consumption expenditures (PCE), state and local government spending, and nonresidential fixed investment that were partly offset by decreases in residential fixed investment, federal government spending, and exports. Imports, which are a subtraction in the calculation of GDP, increased.
The advance Q3 GDP report, with 2.0% annualized growth, was below expectations.
I’ll have more later …