US final US GDP 3Q annualized 3.4% vs 3.5% estimate

Author: Greg Michalowski | Category: News

Prior estimate was 3.5%


A little late, but for good order:
  • US GDP final 3Q 3.4% vs 3.5% estimate. Prior estimate 3.5%
  • Personal Consumption 3.5% vs 3.6% estimate. The prior estimate was 3.6%
  • GDP Price index 1.8% vs 1.7% estimate (and prior estimate)
  • Core PCE QoQ 1.6% vs 1.5% estimate

Contributions to the GDP

  • Consumption, +2.37%
  • Investment, +2.53%. Inventory accumulation added 2.33% of that number
  • Net exports, -1.99%.  Exports, -0.62%.  Imports -1.37% 
  • Government,  0.44%. Federal government +0.23%. State and local, +0.22%

Ex inventory, the GDP would be 1.07%.  The inventory accumulation may be tariff related.  That is the worry.



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