“Core GDP” Upwardly Revised
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Core GDP, final sales ex net exports and government, was revised upward from 3.9% to 4.2%, even if headline GDP growth was not noticeably revised up. That means domestic aggregate demand momentum remains in place.
Figure 1: Final sales to private domestic purchasers, 2nd release (bold black), advance release (gray), GDPNow (light blue square), and August Survey of Professional Forecasters median (blue), all in bn.Ch.2017$ SAAR. SPF calculated as simple sum of rea consumption and investment. S
Figure 1: Final sales to private domestic purchasers, 2nd release (bold black), advance release (gray), GDPNow (light blue square), and August Survey of Professional Forecasters median (blue), all in bn.Ch.2017$ SAAR. SPF calculated as simple sum of rea consumption and investment. S
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