Thank you for sharing!

Your article was successfully shared with the contacts you provided.

IRVINE, CA-The Bureau of Economic Analysis revised its initial estimate of the third-quarter GDP and reports that the US economy grew at a much stronger rate than previously stated, according to Chris Muoio, senior associate and economist with Auction.com. Muoio says the revised numbers bring third-quarter GDP to a real annualized 3.6%, which was well above the expected reading of 3.1% and the initial estimate of 2.8%.

“The largest contributor to growth was a rise in inventories, which represented 1.7% of the total growth,” Muoio says. “Some are concerned that the continued rise in inventories could result in firms being stuck with goods as consumer confidence fails, leading to weaker GDP growth in coming quarters. However, retail sales have continued to grow despite the fall-off in confidence measures, allaying fears for now.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.