Third-Quarter GDP Revised Slightly Lower in 3rd Estimate: What's Next?

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In its third and final estimate of the third-quarter GDP, the economy grew at 3.2%. The revision is statistical noise.

The BEA reports Third-Quarter 2017 GDP at 3.2%, down from 3.3% in the second estimate.

Details

• Real gross domestic product (GDP) increased at an annual rate of 3.2 percent in the third quarter of 2017.
• Real gross domestic income (GDI) increased 2.0 percent in the third quarter, compared with an increase of 2.3 percent in the second.
• The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 2.6 percent in the third quarter, compared with an increase of 2.7 percent in the second quarter.

GDP Revision History

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Contributions Part 1 

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Contributions Part 2 

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Major Contributions

• PCE: 1.49 Down from 2.24
• Services : 0.52 Down from 1.08
• Nonresidential: 0.58 Down from 0.82
• Change in Inventories: 0.79 Up from 0.12

Looking Ahead

Residential investment subtracted 0.18 from third-quarter GDP. It rates to add in the fourth-quarter of 2017 and first-quarter of 2018, barring construction revisions.