A Deeper Look at BEA Q3 GDP Report

BEA reported the Q3 GDP growth of the U.S. that comes at 2.0%.  As I have posted before, the CMI consumer spending index indicates the expansion should be -1.5% + non-consumer items, after modified by the equations I introduced.  The non-consumer items, including inventory adjustment and government spending, come at 2.2%.  That makes the projected BEA Q3 report to be -1.5% + 2.2% = 0.7%.  Therefore, I predict the final revision of the Q3 GDP to be around 0.7% if the non-consumer items will not be altered in the following revisions.

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