Q3 2011 GDP 3rd Revision: 1.8%

Q3 GDP 2011 was revised down another 0.2 percentage points to 1.8%.. Consumer spending was revised significantly downward due to a large downward revision to medical expenditures. GDP was initially reported to be 2.5% for the third quarter, then revised to 2.0% on the second estimate report and now a measly 1.8% for the final, 3rd revision.