Pantheon Macroeconomics - We are struggling to make sense of the third quarter GDP numbers. The reality is that the massive surge in soybean exports--which we estimate contributed 0.9 percentage points, gross, to GDP growth--mostly came from falling inventory, because the soybean harvest mostly takes place in Q4.

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31 October. 2016 Q3 Growth Likely Wasn't 2.9%, Headwinds in Q4

By Ian Shepherdson

We are struggling to make sense of the third quarter GDP numbers. The reality is that the massive surge in soybean exports--which we estimate contributed 0.9 percentage points, gross, to GDP growth--mostly came from falling inventory, because the soybean harvest mostly takes place in Q4.

Posted: 30th Oct 2016 in 'U.S. Documents'

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