10182018Thu
Last updateThu, 18 Oct 2018 4pm

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Manufacturing & The Economy

U.S. GDP Grew at 3.0% Rate in Third Quarter 2017

Real GDP in the U.S. increased at an annual rate of 3.0% in the third quarter of 2017, compared to 2.5% expected, according to the advance estimate released by the Department of Commerce. In the second quarter, real GDP increased 3.1%.

The increase in real GDP in the third quarter reflected positive contributions from personal consumption expenditures, 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. Imports, which are a subtraction in the calculation of GDP, decreased. 

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