US Q3 GDP Revised Higher To 3.2% On Consumer Housing & Car Spending; Exports

The upward adjustment in residential fixed investment was mainly  attributed to single family housing. On the nonresidential side there  were downward revisions to equipment and intellectual property  products,  partially offset by and upward revision to nonresidential structures.

For inventories, there were downward adjustments in construction, mining, utilities and manufacturing.

Some highlights: personal consumption expenditures rose an upward revised 2.8% in the third quarter, a deceleration from the 4.3% rise in the second quarter but better than the 1.6% gain in the first quarter, and higher than expected.  The increase reflected an increase in consumer spending on household services, notably on housing and utilities. Consumer spending on durable goods also increased, notably on motor vehicles and parts. However, spending on nondurable goods declined.