Q2 2014 real GDP was revised to 4.6%, a strong showing not seen since Q4 2011. Q2 Gross Domestic Product also cancels out the dismal Q1 -2.1% real GDP contraction for the year. Growth was across the board. Investment showed large growth. Personal consumption expenditures increased and were a large component of GDP. Changes in private inventories was a large GDP contribution, but so were exports.
Q4 2013 real GDP was revised significantly downward from the original 3.2% to a weak, measly 2.4%. Personal consumption expenditures was revised down over half a percentage point of GDP. The original estimate for exports was also revised down over a quarter of a percentage point. If the Q4 downward revision in consumer spending isn't bad enough, for all of 2013 annual real GDP was just 1.9%. In 2012, annual GDP was 2.8%.
Q4 2013 real GDP has come in at 3.2%, a good showing. Personal consumption expenditures was almost 70% of the growth whereas federal government spending took off almost a percentage point of GDP. Exports increased significantly while imports did not.
Q3 2013 real GDP had yet another blow out revision upward and is now 4.1%. Originally GDP was reported to be 2.8% for the third quarter, then it was revised to 3.6%. Now we have another revision showing a whopping large third quarter GDP. This is the largest quarterly economic growth since Q4 2011.
Q3 2013 real GDP had a blow out revision and is now 3.6%. Originally GDP was reported to be 2.8% for the third quarter. As estimated, dramatically increasing inventory accumulation was the main cause of the large upward revision to GDP. Changes in inventories accounted for 46.5% of Q3 GDP.
Q3 2013 real GDP came in at 2.8% Changes in business inventories saved the day as did less of an increase in imports. Fixed investment also increased. Government spending declines were about the same as Q2, yet local governments increased spending. Consumer spending was less growth than Q2, only about 37% of this quarter's GDP.
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