Consumer price inflation likely caused this. Prices are rising faster than yeilds on savings, so savings dropped and spending rose. People who save less plan less, and that means fewer households.
There is a lag in measuring inflation. Consumers already pay higher nominal prices than the aggregate data collectors can verify. Hence some of the reported quarterly growth will revise downward. The interesting stat will be the rate of revisions relative now to the rate of revision in the past. Is the economy getting more accurate?
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