Q3 Real GDP rose by 2%, right in line with expectations but Nominal GDP was better than expected, rising 4.3% vs the estimated gain of 3.8%, the difference being the inflation price deflator which rose 2.3%. Personal Spending, 70% of the figure, rose by 2.6%, .1% better than expected and the best gain since Q4 ’06. It added 1.8 % pts to GDP. Spending on equipment and software rose 12% after a 24.8% gain in Q2. Residential construction fell by 29.1%. Trade reduced GDP by 2 full % pts as imports rose by 17.4% while exports were up by just 5%. The inventory gain of $115.5b added 1.4% to GDP. Government spending was up 3.4% solely led by the Federal side. Real Final Sales, taking out the inventory influence, rose by .6%, the slowest since Q3 ’09. Bottom line, growth was ordinary in Q3 after an ordinary growth rate of 1.7% in Q2 and unfortunately is not expected to get much better in Q4. The economy is still growing but below its potential.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.