Friday, December 20, 2013

It's The Economy Stupid: Last Look At 3Q GDP

Economic Event

Period

Economic Survey

Actual Reported

Original Prior

Revised Prior

GDP Annualized QoQ

3Q T

3.6%

4.1%

3.6%

--

Personal Consumption

3Q T

1.4%

2.0%

1.4%

--

GDP Price Index

3Q T

2.0%

2.0%

2.0%

--

Core PCE QoQ

3Q T

1.5%

1.4%

1.5%

--

 

The last look at third quarter GDP was revised up to 4.1% from 3.6%.  Now, keep in mind that this number, to a significant degree, is built on increases in inventory.  We manufactured a bunch of stuff, now if in the fourth quarter we can turnover those inventories with sales we are really talking about something.  GDP Price Index was unch’d.  Personal Consumption was also revised up to 2.0%.  It was a pretty good quarter, things sure look like they are getting better.

 

I will be out of the office on Monday and Tuesday, so I want to take this time to wish each and every one of you the very happiest of holidays! 

 

Merry Christmas and Happy New Year

 

----------------------

“I have not failed. I've just found 10,000 ways that won't work.” ~ Thomas Alva Edison

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

225-342-0013

jbroussard@treasury.state.la.us

 

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