Final Revisions indicate that 3rd Quarter growth ended a touch slower than previously reported. While consumption growth was revised lower, sometimes an indicator of slower growth in the coming quarter, retail sales indicate that growth remained strong in the first two months of the 4th Quarter. With the 4th Quarter ending next week, early forecasts are for a modest deceleration to 2.7% annualized.
In final sales categories, residential investment, imports, and government purchases were revised higher, while net exports, consumption, and fixed investment were revised lower.
As a result of all of these changes, real final sales was revised down by 0.1 percentage points to 2.4% while real domestic demand was revised down by 0.1 percentage points to 1.9%.
The GDP Price Index