U.S real gross domestic product (GDP) increased 2.1 percent in the third quarter, according to the “second” estimate released by the Bureau of Economic Analysis. In the second quarter, U.S real GDP increased 2.0 percent.
The GDP estimate released is based on more complete source data than were available for the “advance” estimate issued last month. In the advance estimate, the increase in real GDP was 1.9 percent.
”The increase in real GDP in the third quarter reflected positive contributions from PCE, federal government spending, residential investment, private inventory investment, exports, and state and local government spending that were partly offset by a negative contribution from nonresidential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased,” said in the statement.
The acceleration in real GDP in the third quarter reflected upturns in private inventory investment, exports, and residential fixed investment that were partly offset by decelerations in PCE, federal government spending, and state and local government spending, and a larger decrease in nonresidential fixed investment.
Real gross domestic income (GDI) increased 2.4 percent in the third quarter, compared with an increase of 0.9 percent (revised) in the second quarter. The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 2.3 percent in the third quarter, compared with an increase of 1.4 percent in the second quarter.
Current dollar GDP increased 3.8 percent, or $201.8 billion, in the third quarter to a level of $21.54 trillion. In the second quarter, GDP increased 4.7 percent, or $241.4 billion.
The price index for gross domestic purchases increased 1.4 percent in the third quarter, compared with an increase of 2.2 percent in the second quarter. The PCE price index increased 1.5 percent, compared with an increase of 2.4 percent. Excluding food and energy prices, the PCE price index increased 2.1 percent, compared with an increase of 1.9 percent.
 increased 2.1 percent in the third quarter, according to the "second" estimate released by the Bureau of Economic Analysis.){kind=link}