The initial read on 2012’s fourth quarter was a GDP contraction of 0.1%. Then it was a growth of 0.1%. Now it’s been bumped again, this time to 0.4%.
How long before this administration gets its figures correct and calls the 4QFY GDP growth at 3%?
A Plebe's Site
Quam bene vivas referre, non quam diu.
Generally, by the 3rd revision the GDP growth number is mostly settled….
True enough. That’s just my cynicism and lack of trust in the Federal government generally and of the present administration in particular.
Eric Hines
The final revision tends to hold the most surprises. There is a key metric in the 3rd revision data – Corporate Profits – that is published for the first time for the previous quarter in the 3rd revision.
Generally, by the 3rd revision the GDP growth number is mostly settled, but a .1% – .3% revision isn’t shocking given past performance of these metrics.