‘Wow! This Is a Blow-Out!’ Fox Reporter Shocked By New GDP Report Showing Higher-Than-Expected Gain

Fox News and Fox Business Network correspondent Gerri Willis was shocked by new GDP numbers, exclaiming to Fox Business anchor Maria Bartiromo “Wow! This is a blow-out, Maria!”

The U.S. Bureau of Economic Analysis (BEA) released new GDP numbers on Thursday that showed an upward revision to November’s 3rd quarter Gross Domestic Product (GDP) estimate — which was already much higher than expected:

Real gross domestic product (GDP) increased at an annual rate of 3.2 percent in the third quarter of 2022 (table 1), according to the “third” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP decreased 0.6 percent.

The “third” estimate of GDP released today is based on more complete source data than were available for the “second” estimate issued last month. In the second estimate, the increase in real GDP was 2.9 percent.

On Thursday morning’s edition of Fox Business Network’s Mornings With Maria, Bartiromo got the news from Willis, who was surprised by the growth but also noted the market reaction in anticipation of further Fed interest rate hikes to cool the economy:

MARIA BARTIROMO: A stronger than expected GDP. Hold on, Michael. I want to get to Gerri Willis right now with the final minute, third quarter GDP. Gerri.

GERRI WILLIS: Wow! This is a blowout out, Maria! 3.2%. That is the third and final revision on third quarter GDP. Not what we expected. We expected a 2.9% gain. 3.2% is going to be a surprise to the markets. You’re seeing the sell-off deepening here because all of this feeds into what the Federal Reserve does. We’re going to expect to see more rate hikes on this higher than anticipated number. GDP, of course, the broadest measure of the nation’s output. It’s how much the economy is growing. Keep in mind, it’s very rearview mirror. This is third quarter. It’s not right now. So for that reason, you need to keep it in perspective. We’re also looking at initial claims that coming in at 216,000 below expectations of 222,000 and continuing claims 1.672. Maria?

MARIA BARTIROMO: Yeah, Gerri, the market worsened right as the number was coming out. It is down 123.

Watch above via Fox Business Network’s Mornings With Maria.