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.
Q3 GDP 2011 was revised down a full half percent to 2.0%. from 2.5%. Here is the original BEA GDP report. The downward revision was due to inventories, offset by a surprise reduction in imports.
Q2 GDP 2011 3rd revision is in at 1.3%. This is a +0.3% revision from the Q2 2nd revision report, which reported a 1.0% Q2 GDP. Here is the original BEA GDP report. Q1 2011 GDP was 0.4%. The BEA reports real GDP by one decimal place of accuracy. Not rounded, real Q2 GDP was 1.34%.
Q2 GDP 2011 2nd revision is in at 1.0%. This is a -0.3% revision from the Q2 advance report, which reported a 1.3% Q2 GDP. Here is the original BEA GDP report. Q1 2011 GDP was 0.4%. The BEA reports real GDP by one decimal place of accuracy. Not rounded, real Q2 GDP was 0.98%.
New Orders in Durable Goods jumped to an astounding 4.0% for July 2011. New Orders has declined the last two months out of four. June durable goods new orders were revised from -2.1% to a -1.3% decrease. But wait.....sorry to pop your balloon....
The Philly Fed Survey current business activity index plunged -30.7% for August. The below graph is the Philadelphia Fed Current Business Activity Index against Industrial Production, the national manufacturing and output indicator, released by the Fed.
Q1 GDP 2011 came in at 1.9% for the third revision, one tenth of a percentage point higher than the second revision. Here is the original BEA GDP report.
Q1 GDP 2011 came in at 1.8% for the second revision, same as the advance report. Here is the original BEA GDP report.
The decrease of Q1 GDP growth is once again, due to the never ending increasing trade deficit, a slow down in personal consumption and a drop in government spending.
Recent comments