Saturday, December 29, 2012

Latest Revisions Show Stronger Growth of both Real and Nominal GDP

The third estimate of Q3 2012 US GDP came out on December 20, just as the holiday season was in full swing and as the limited public appetite for economic news was focused on the fiscal cliff. The report deserved more notice than it got. The Bureau of Economic Analysis revised its estimate of real GDP growth upward to a respectable 3.1 percent from the 2.7 percent of the second estimate, which came out in November. The latest estimate looked even better set against the anemic 2.0 percent reported in October’s advance estimate. The latest report also revised the estimate for nominal GDP growth upward to 5.9 percent, the fastest in almost four years. >>>Read more

Follow this link to view or download a classroom-ready slideshow with charts and analysis of all the latest GDP and NGDP data

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