at Calculated Risk on 12/19/2024 08:37:00 AM
From the BEA: Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), and GDP by Industry, Third Quarter 2024
Real gross domestic product (GDP) increased at an annual rate of 3.1 percent in the third quarter of 2024according to the “third” estimate released by the US Bureau of Economic Analysis. In the second quarter, real GDP increased by 3.0 percent.
The GDP estimate released today is based on more complete source data than were available for the “second” estimate issued last month. In the second estimate, the increase in real GDP was 2.8 percent. The update primarily reflected upward revisions to exports and consumer spending that were partially offset by a downward revision to private inventory investment. Imports, which are a subtraction in the calculation of GDP, were revised up.
emphasis added
Here is a Comparison of Third and Second Estimates. PCE growth was revised up from 3.5% to 3.7%. Residential investment was revised up from -5.0% to -4.3%.