Option Millionaires

[uranium-pinto-beans]

Second estimate for Q3 GDP shows stronger growth (and higher inflation)
The second estimate for Q3 GDP was revised up to 2.9% (Briefing.com consensus 2.7%) from the advance estimate of 2.6%. The GDP Price Deflator was also revised up to 4.3% (Briefing.com consensus 4.1%) from the advance estimate of 4.1%.

The key takeaway from the report is that growth was better than expected and inflation was higher than first thought.

Personal consumption expenditures were up 1.7% versus the advance estimate of 1.4%, and added 1.18 percentage points to growth. Spending on goods was down 0.2% versus the advance estimate of -1.2% while spending on services was up 2.7% versus the advance estimate of 2.8%.
Gross private domestic investment was down 9.1% versus the advance estimate of down 8.5%, and subtracted 1.71 percentage points from growth.
Net exports added 2.93 percentage points to growth versus 2.77 percentage points in the advance estimate. Exports increased 15.3% versus the advance estimate of 14.4% and imports decreased 7.3% versus the advance estimate of -6.9%.
Government spending increased 3.0% versus the advance estimate of 2.4%, and added 0.53 percentage points to growth.
The personal savings rate, as a percentage of disposable personal income, dropped to 2.8% versus the advance estimate of 3.3%. The Q2 rate was 3.2%.
The PCE Price Index increased to 4.3% from the advance estimate of 4.2% while the core PCE Price Index increased to 4.6% from the advance estimate of 4.5%.