11152018Thu
Last updateWed, 14 Nov 2018 4pm

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Manufacturing & The Economy

Third Quarter GDP Increased at 3.5% Pace

GDP in the U.S. increased at a faster than expected annual rate of 3.5% in the third quarter of 2018, according to the Department of Commerce. In the second quarter, GDP increased 4.2%.

The increase in GDP in the third quarter reflected positive contributions from personal consumption expenditures, private inventory investment, state and local government spending, federal government spending, and nonresidential fixed investment that were partly offset by negative contributions from exports and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased. 

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