US DATA: Q3 real GDP rev to +2.7% but real final sales +1.9%, w/expected
up-revs to inventories & exports offset in part by weaker consumer
spending (weaker car lube, less insurance & bank fees, weaker elec/gas
use) & less trucks & software investment. GDP has a weaker composition.
GDP prices +2.7%. Corp profits +$106.6b pretax, as bank profits jumped.
GDP Components: Q3 Q4:11 Q1:12 Q2 Q3 prelm Q3 rev
Real growth +1.3% +4.1% +2.0% +1.3% +2.0% +2.7%
Real final sales +2.3 +1.5 +2.4 +1.7 +2.1 +1.9
PCE +1.7 +2.0 +2.4 +1.5 +2.0 +1.4
Nonres fixed invest +19.0 +9.5 +7.5 +3.6 -1.3 -2.2
Res fixed invest +1.4 +12.1 +20.5 +8.5 +14.4 +14.2
Net Exprt Contrib add 0.02 cut 0.64 add 0.06 add 0.23 cut 0.18 add 0.14
Inventory Contrib cut 1.07 add 2.53 cut 0.39 cut 0.46 cut 0.12 add 0.77
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Unemploy claims -23k to 393k in Nov 24 TG holiday wk, w/nothing unusual.