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Friday, October 26, 2012

Friday's GDP

Data released today (Friday) shows a rise in the Advance GDP numbers, as shown on the graph below.


There was also a rise in the Advance GDP Price Index numbers, as shown on the graph below.


This link to the details of the GDP released by the U.S. Department of Commerce Bureau of Economic Analysis says that:  "The acceleration in real GDP in the third quarter primarily reflected an upturn in federal government spending, a downturn in imports, an acceleration in PCE, a smaller decrease in private inventory investment, an acceleration in residential fixed investment, and a smaller decrease in state and local government spending that were partly offset by downturns in exports and in nonresidential fixed investment."

This Tweet by Bloomberg's Economics Editor summarizes the above: