Posted on 25 November 2020
Written by Rick Davis, Consumer Metrics Institute
BEA Nudges Estimated Third Quarter 2020 GDP Growth Downward to 33.07%In their second estimate of the US GDP for the third quarter of 2020, the Bureau of Economic Analysis (BEA) reported that the US economy was growing at a +33.07% annual rate, down -0.02 percentage points (pp) from their previous estimate but still up 64.46pp from the prior quarter.Please share this article – Go to very top of page, right hand side, for social media buttons.There are no material revisions in this report. Some of the growth in consumer spending was shifted from services to goods, while reducing the overall consumer spending by -0.06pp. Growth in commercial and private fixed investments was adjusted upward by +0.27pp, but
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