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Revisions leave economic landscape unchanged

The comprehensive revisions to the GDP data did not make a significant change to the macroeconomic story, with the real economy still 6.1% larger than in the fourth quarter of 2019 and the discrepancy between GDI and GDP only partly resolved. Meanwhile, an imminent government shutdown is unlikely to have any lasting impact on GDP. However, the potential furlough of BLS workers could delay publication of the employment report due next Friday.  

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