The US GDP revision for the 3Q took the growth to 5% from 3.9%. The estimate was for a rise of 4.3%.
The main contributor to the growth was in consumption. In the prior report consumption grew by 2.2%. It was revised higher to +3.2% for the quarter. That contributed 2.21% of the 5% gain in quarter.
Private investment was originally reported at 5.1% in the 2nd report that was revised to +7.2%. The component contributed 1.18% of the total GDP
Net exports was a contributor by 0.78% and government contributed +0.8% of the 5% increase. These were little changed from the previous estimate.
Core PCE was unchanged.
Inventories were increased to 82.2B vs 79.1B
Below are the revised trends.
US GDP rises by 5%. Higher than expectations
