by Calculated Risk on 9/30/2021 08:34:00 AM
The “third” estimate of GDP 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 6.6 percent. Upward revisions to personal consumption expenditures (PCE), exports, and private inventory investment were partly offset by an upward revision to imports, which are a subtraction in the calculation of GDP
Here is a Comparison of Third and Second Estimates. PCE growth was revised up from 11.9% to 12.0%. Residential investment was revised down from -11.5% to -11.7%. This was at the consensus forecast.