by Calculated Risk on 3/30/2022 08:36:00 AM
The “third” estimate of GDP released today is based on more complete source data than were available for the “second” estimate issued last month. In the second estimate, the increase in real GDP was 7.0 percent. The downward revision primarily reflected downward revisions to personal consumption expenditures (PCE) and exports that were partly offset by an upward revision to private inventory investment.
Here is a Comparison of Third and Second Estimates. PCE growth was revised down from 3.1% to 2.5%. Residential investment was revised up from 1.0% to 2.2%.