Headline GDP growth of 3.2% signals no economic slowdown, but final sales signal otherwise. Final sales exclude the effect of net exports and private inventories. As you can see from the chart below, final sales to domestic purchasers’ growth fell to 1.52%. This was a huge divergence from real GDP growth. It was the lowest growth rate in 6 years, meaning this report supports the thesis that there is an economic slowdown. Growth was about 0.8% below this expansion’s average. Real GDP growth was about 0.9% above average.