Net Exports Contribution to GDP Highest in 10 Yrs.
The contribution of net exports of goods and services to real GDP growth in the third quarter was revised upward to 1.37% (from the original estimate of 0.90%), and contributed to half of the 1% upward revision of real GDP growth from 3.9% to 4.9%. Further, it was the largest percent contribution to real GDP growth since the fourth quarter of 1996 (see chart above). Further, without the -1.03% decline in housing, real GDP growth would have been 5.93% in the third quarter. Read more here from First Trust Advisors.