GDP Q2 Revision Friday Expected To Show Upward Adjustment

Another revision to the official U.S. growth estimate due Friday is expected to show the economy expanded by 4.6 percent during the second quarter. The upward revision, from an August estimate of 4.2 percent, will likely be driven by newly available data showing higher spending in the health care and construction sectors, according to economists at Englewood, Colorado-based

. Growth in the April through July period was originally estimated at 4 percent by the Bureau of Economic Analysis, an arm of the U.S. Commerce Department. Growth came mainly from gains in personal consumption, private inventory investment, exports, nonresidential fixed investment, state and local government spending, and residential fixed investment. Friday's estimate, the so-called "second quarterly revision," is the third in a series of estimates typically offered each quarter. Second revisions generally include about two-thirds of the data required for a full estimate. The bureau also typically offers an "advance" estimate 20 days after a quarter's end, and a "first revision" 45 days after the period is completed. Additional revisions follow annually for three years.