Third-Quarter GDP Revised Up to 2.1% From 1.5%
Third-Quarter GDP Revised Up to 2.1% From 1.5% MarketWatch (11/24/15) Jeffrey Bartash The U.S. economy expanded at a faster pace in the third quarter than previously reported. Gross domestic product rose at a 2.1% annualized rate, up from an initial estimate of 1.5%, U.S. Department of Commerce figures showed Tuesday. The upward revision in growth stemmed entirely from a bigger buildup in inventories. The value of newly produced but unsold goods was raised to $90.2 billion from an initial $56.8 billion. Wages and salaries rose by $102.7 billion in the third quarter following a $109.4 billion gain in the April through June period that was almost $62 billion larger than previously estimated.