Daily News: December 26, 2017

Real U.S. GDP Up 3.3% in Q3/17


Real gross domestic product increased at an annual rate of 3.3% in Q3/17 according to the second estimates of the national income and product accounts of the Bureau of Economic Analysis.

With the second estimate, real GDP growth for Q3/17 was revised up 0.3 percentage point from the advance estimate of 3.0%.

The BEA reported indicated that the general picture of economic growth remains the same; nonresidential fixed investment, state and local government spending and private inventory investment were revised up based on more complete source data than previously available.

The third quarter increase in real GDP reflected positive contributions from consumer spending, inventory investment, nonresidential fixed investment, exports, and state and local government spending that were partly offset by a negative contribution from residential fixed investment.