Revisions to GDP data for third quarter suggest that you can bump up the estimate for net export growth substantially, up another $10-20 billion or so.
A draw in inventories (and declines in durables, nondurables) - a cut in production, is to be expected in a slowdown, so this confirms that with these data. I don't really have a big loss in jobs associated with that, however (apart from what is expected in construction industry) humm....
Investment, including residential investment, mostly at rates expected.
Table. NIPA 1.1.1, 1.1.2
Revisions: Revisions to percentage contribution to growth; growth, and revision to growth:
| Percent change at annual rate: | Chng %Contrb | %Grwth | Chng %Grwth |
|---|---|---|---|
| Gross domestic product | 1 | 4.9 | 1 |
| Personal consumption expenditures | -0.23 | 2.7 | -0.3 |
| Durable goods | -0.04 | 4 | -0.4 |
| Nondurable goods | -0.17 | 1.9 | -0.8 |
| Services | -0.02 | 2.8 | -0.1 |
| Gross private domestic investment | 0.79 | 5.9 | 5.1 |
| Fixed investment | 0.17 | -0.4 | 1.1 |
| Nonresidential | 0.15 | 9.4 | 1.5 |
| Structures | 0.06 | 14.3 | 2 |
| Equipment and software | 0.09 | 7.2 | 1.3 |
| Residential | 0.02 | -19.7 | 0.4 |
| Change in private inventories | 0.62 | --- | |
| Net exports of goods and services | 0.44 | 14.6 | 3.6 |
| Exports | 0.29 | 18.9 | 2.7 |
| Goods | 0.21 | 25.8 | 2.8 |
| Services | 0.08 | 4 | 2.4 |
| Imports | 0.16 | 4.3 | -0.9 |
| Goods | 0.18 | 4.9 | -1.3 |
| Services | -0.01 | 0.9 | 0.5 |
| Government consumption expenditures and gross investment | 0.02 | 3.9 | 0.2 |
| Federal | 0.01 | 7 | 0.2 |
| National defense | 0.02 | 10.1 | 0.4 |
| Nondefense | 0 | 0.9 | 0 |
| State and local | 0.01 | 2.1 | 0.1 |
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