The final estimate of Q3 2024 GDP features a sizeable 0.3 ppt upward revision in Real GDP growth to 3.1%. This came from upward revisions in exports and consumer spendings which were partly offset by a downward revision in inventory investment and an upward revision in imports. Additionally, the BEA increased its estimate of the change in core PCE prices from 2.1% back to 2.2% (where it was in the advance estimate).

GDP by industry shows strong contributions by the services sector to growth. In particular, strong retail trade growth added 1.1 ppts to overall real GDP growth. Services GDP increased 3.6% while goods GDP increased 1.5%. The government added 0.23 ppts to real GDP growth and its GDP was up 2.1%. Some minor revisions include a slight upward revision in personal income and small downward revisions in corporate profits.