by Calculated Risk on 12/22/2021 08:33:00 AM
The “third” estimate of GDP 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 2.1 percent. The update primarily reflects upward revisions to personal consumption expenditures (PCE) and private inventory investment that were partly offset by a downward revision to exports. Imports, which are a subtraction in the calculation of GDP, were revised down.
Here is a Comparison of Third and Second Estimates. PCE growth was revised up from 1.7% to 2.0%. Residential investment was revised up from -8.3% to -7.7%.