Real GDP for 2021 Q3 Revised Up to 2.3% in “Third” Estimate

The Bureau of Economic Analysis (BEA) released today (12-22-21) its “third” estimate of real gross domestic product (GDP) for 2021 Q3. In the “third” estimate for the third quarter, real GDP increased 2.3% — 0.2% higher than in the “second” estimate.

The estimate released today is based on more complete source data than were available for the “second” estimate, which was issued last month. In the “second” estimate, the increase in real GDP was at 2.1%.

Upward revisions to PCE (specifically, an upward revision to services), private inventory investment (both farm and nonfarm), residential fixed investment, state and local government spending, and nonresidential fixed investment were partly offset by downward revisions to exports and federal government spending. Imports were also revised down.

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Original Source:
Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), and GDP by Industry, Third Quarter 2021