This chart via BAML FX strategist John Shin, who ruminates on consumption shares and current account balances this morning:
DB's US economic team:
With every advance GDP release, the BEA makes assumptions for the third month of the quarter. For September, we learned that inventories were much lower and net exports were much higher than what the BEA assumed. The net effect is likely to be a 0.3% downward revision to Q3 real GDP to 2.2%, as inventory weakness trumped the unexpected strength in net exports.