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| Gross Domestic Product, 3Q2005 "Final" Estimate (#1) - Dec. 21, 2005 |
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Summary
Earlier this morning, the Commerce Department released its third ("final") estimate of third-quarter gross domestic product. The report indicated real growth at a 4.1% annual rate during the period, a downward revision from the 4.3% rate reported in last month's "preliminary" estimate.
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* The Commerce Department's third ("final") estimate of third-quarter gross domestic product indicated real growth during the period at a 4.1% annual rate, versus a 3.3% rate during this year's June quarter.
* The consensus estimate for the revised third-quarter figure had been around 4.3%, or for no change from the last rendering, released in November. In fact, Commerce reported a number 0.2% lower.
* Today's report showed a meaningful upward revision in the key inflation series used in GDP accounting.
I will soon publish a detailed look at today's numbers.
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