GDP Revisions Keep Recession at Bay

Posted: November 24, 2009 at 8:37 am

This morning we just received the first revision to third quarter Gross Domestic Product.  The original unrevised figure was reported +3.5% for Q3, and the revision came in at +2.8%.  Bloomberg had a consensus estimate of 2.8% for today’s revised data, while Dow Jones was at 2.7%.

The price index for personal consumption was +2.7% versus a +2.8% preliminary figure. Core PCE, excluding food and energy, was +1.3% versus the preliminary +1.4% data.

This might not be quite as solid as the initial report, but at least it isn’t in the red.  After that, there is not so much to dwell on in today’s data on a week where trading and market participation lightens significantly.

JON C. OGG

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