Published: 2024-11-15T16:34:25.000Z
Preview: Due November 27 - U.S. Preliminary (Second) Estimate Q3 GDP - Marginally stronger still
Senior Economist , North America
1
We expect a marginal upward revision to 2.9% in the second (preliminary) estimate of Q3 GDP from an already healthy first (advance) estimate of 2.8%.
Upward revisions are likely in retail sales and construction spending (private residential and non-residential as well as public).
This will outweighing a small downward revision in net exports as imports see a stronger upward revision than exports (in USD terms if not percentages).
We do not expect any revisions to the price indices, of 1.8% for GDP, 1.5% for PCE prices and 2.2% for the core PCE price index.
