GDP (seasonally adjusted) for Q3, -0.6% q/q … much uglier than thought initially
- preliminary, -0.3% q/q, prior +0.7%
GDP Annualized (seasonally adjusted) for Q3, -2.5% … the sharpest drop since Q2 of 2014
- preliminary -1.2% y/y
- prior +3.0%
GDP Nominal (seasonally adjusted) for Q3 -0.7%
- preliminary -0.3% q/q
- prior +0.7%
GDP Deflator y/y for Q3, % (recall this is an inflation indicator)
- expected -0.1%, prior +0.1%
GDP Consumer Spending y/y for Q3, -0.2%
- preliminary -0.1% q/q
- prior was +0.7%
GDP Business Spending y/y for Q3, -2.8%, this is the biggest fall since Q3 of 2009
- preliminary -0.2% q/q
- expected +0.2%, prior was +3.1%
Wow, horrible set of numbers, much, much worse than the preliminary estimates.
- natural disasters during the quarter have taken a heavy toll
- exports softened also
But, is there more to it?
more to come