Excluding this inventory swing, annualized growth in “final sales” to consumers, businesses, and the government averaged a tepid 1.6%. With inventory investment unlikely to keep accelerating at anything close to its recent rate, overall GDP growth can be expected to converge on this more subdued pace of final demand.
这一次也是如此并不令人奇怪。事实上，GDP增长加速的大部分动力来自不可持续的库存重建。2013年前三季度，存货投资增加贡献了2.6%的总GDP增量的整整38%。剔除这一存货变化因素，面向消费者、企业和政府的“最终销售”的年化增长平均只有1.6%。存货投资不可能以当前速度持续增加，因此可以预期总体GDP增长将向更低的最终需求增长速度靠拢。