Real gross domestic product increased at an annual rate of 3.5% in the Q3 of 2016, according to the ‘third’ estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 1.4%.
The GDP estimate released on the 22nd of December is based on more complete source data than were available for the ‘second’ estimate issued in the previous month. In the second estimate, the increase in real GDP was 3.2%.
With this third estimate for the Q3, nonresidential fixed investment, personal consumption expenditures (PCE), and state and local government spending increased more than previously estimated, but the general picture of economic growth remains the same.
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