Chart of the Day: That 2008 Feeling...Part 2

Economist

Richard Iley

Macroeconomics

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<p>The second estimate of Q3 GDP, which saw growth revised up to 3.3% SAAR from the 3.1% SAAR advance estimate, provided further evidence of the US economy's strength.</p>
<p>Increased estimates of capex - a theme that we continually stressed - were the main source of the upgrade. Equipment capex is now estimated to have surged by 10.4% SAAR in Q3. Bellwether lead indicators signal that even better is still to come (see <a href="https://www.smartkarma.com/insights/chart-of-the-day-boom-part-2" target="_blank" data-smartkarma-citation="insights:15418">Chart of the Day: BOOM! - Part 2</a>). </p>
<p>One less-heralded aspect of the US's late-cycle boom…</p>
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The second estimate of Q3 GDP, which saw growth revised up to 3.3% SAAR from the 3.1% SAAR advance estimate, provided further evidence of the US economy's strength.
Increased estimates of capex - a theme that we continually stressed - were the main source of the upgrade. Equipment capex is now estimated to have surged by 10.4% SAAR in Q3. Bellwether lead indicators signal that even better is still to come (see Chart of the Day: BOOM! - Part 2). 
One less-heralded aspect of the US's late-cycle boom…


Chart of the Day: BOOM! - Part 3