by Calculated Risk on 2/24/2022 08:33:00 AM
The GDP estimate released today is based on more complete source data than were available for the “advance” estimate issued last month. In the advance estimate, the increase in real GDP was 6.9 percent. The updated estimates primarily reflected upward revisions to nonresidential fixed investment, state and local government spending, and residential fixed investment that were partly offset by downward revisions to personal consumption expenditures (PCE) and exports.
Here is a Comparison of Second and Advance Estimates. PCE growth was revised down from 3.3% to 3.1%. Residential investment was revised up from -0.8% to 1.0%.