Increasing Inventory

While Q3 GDP growth is now pegged at 2.1%, up from the first estimate of 1.5% last month, the revisions mix wasn’t great. The biggest contributor to the rise, inventory growth. This suggests Q4 GDP growth will be slightly weaker and manufacturing hasn’t fully adjusted to the strong dollar and slower global growth. Contributions from consumption, trade and government spending were a bit weaker. The Fed still raises in December.