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U.S. Third Quarter GDP Revised up to 2.7% From 2.0%

MarketWatch (11/29/12) Jeffry Bartash

The U.S. economy grew at a 2.7% pace in the third quarter, primarily because of higher inventories and exports, the U.S. Department of Commerce said today. The 2.7% figure is an upward revision from the government’s previous calculation of 2.0% and includes fresh data not available in the first report. Inventories rose by $61.3 billion in the third quarter compared with $41.4 billion in the second quarter. Exports were revised up to a 1.1% increase from a 1.6% decline, and imports were revised to a 0.1% increase from a 0.2% decline. Business capital investment declined 2.2% instead of the 1.3% originally reported.