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Economy

GDP Revisions Keep Recession at Bay

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published

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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

Contact [email protected] for any questions or corrections.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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