US third quarter GDP was revised substantially higher, beating the expectations of economists

US third quarter GDP was revised substantially higher, beating the expectations of economists. The consensus estimate for today's GDP revision was 3.3% (down from the previous reading of 3.5%). Instead, the number came in at a much stronger 3.9%. Even better, the gains game from upward revisions in goods consumption and fixed investments. The two categories are broadly showing spending increases from both consumers and businesses. It's particularly good news considering the fourth quarter is likely to be negatively impacted by slowing manufacturing. With a jump in retail spending, Q4 GDP is possibly shaping up to be better than expected. (VIEW LINK)