Posted October 27, 2017

Third-quarter GDP increased 3 percent

Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the third quarter of 2017.

In the second quarter, real GDP increased 3.1 percent, according to the Bureau of Economic Analysis. The increase in real GDP in the third quarter reflected positive contributions from personal consumption expenditures (PCE), private inventory investment, nonresidential fixed investment, exports and federal government spending. These increases were partly offset by negative contributions from residential fixed investment and state and local government spending. 

The deceleration in real GDP growth in the third quarter primarily reflected decelerations in PCE, in nonresidential fixed investment, and in exports that were partly offset by an acceleration in private inventory investment and a downturn in imports.