Another surprising upward revision to real GDP

Summary

The preliminary report for 3Q14 real GDP growth was a welcome surprise, hinting at more positive underlying details compared to the advance release. Growth was revised up from 3.5% to 3.9% QoQ SAAR, slightly less than the 4.6% pace seen in the second quarter. The primary drivers behind this upward revision were personal consumption expenditures (up from 1.8% to 2.2%) and nonresidential fixed investment (up from 5.5% to 7.1%)

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