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Q3 GDP revised downwards

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Q3 GDP revised downwards

GDP growth in Q3 revised to 2.0% from 2.1%.

US estimated real gross domestic product increased at an annual rate of 2.0% in the third quarter, according to a report issued by the Commerce Department today.  This is an upward revision from the previous estimate of 2.1% growth. This follows Q2 GDP growth of 3.9%. 

The revised figure was slightly above analysts’ expectations for a revision to 1.9%.

The downward revision resulted primarily from lower-than-estimated growth in inventories, offset by higher-than-estimated expenditures on business equipment.

The full report can be found here.

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