GDP accelerated by private inventory and government spending according to BEA
The US Bureau of Economic Analysis (BEA) has estimated that the real gross domestic product (GDP) increased at an annual rate of 2.9% in the third quarter of 2016, a 1.5% increase from the second quarter.
The increase in real GDP in Q3 reflected positive contributions from personal consumption expenditures (PCE), exports, private inventory investment, federal government spending, and non-residential fixed investment.
Current-dollar GDP increased from $201.1bn in Q3 to a level of $18,651.2 trillion – a 4.4% increase. In the second quarter, current dollar GPD increased by $168.5bn (3.7%).
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