Global Economic News and Analysis
by Steven Hansen and Doug Short The second estimate of third quarter 2011 Gross Domestic Product (GDP) is 2.0% – up from 2Q2011 GDP of 1.3% and down from the advance 3Q2011 estimate of 2.5%. The market expected 2.3% to 2.5%. This is the second estimate, which is based on more complete data and is …
Continue reading “Second Estimate 3Q2011 GDP Disappoints: Revised Down to 2.0%”
by Steven Hansen and Doug Short Advance third quarter 2011 Gross Domestic Product (GDP) is 2.5% – up from 2Q2011 GDP of 1.3%. This was on the high side of Econintersect’s estimate and higher than the 2.1% GDP forecast by Briefing.com. This is an advance estimate, which is based on incomplete data and is subject …
2Q2011 had the weakest consumer growth since 4Q2009, but is the primary reason why the third estimate was revised back to its advance estimate value.
Second quarter 2011 Gross Domestic Product (GDP) was just revised downward by the Bureau of Economic Analysis (BEA) from 1.3% to 1.0%. Cutting to the chase, the decline was primarily due to the import / export balance – more imports and less exports.
The story is not second quarter gross domestic product (GDP)– the output of goods and services produced by labor and property located in the United States – “fell” to 1.3% from 1.9% (analysis here). The story is that it rose from a hugely downwardly revised 1Q2011 GDP of 0.4%.