{"id":1004160502,"date":"2016-11-30T05:58:38","date_gmt":"2016-11-30T13:58:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004160502"},"modified":"2022-12-08T11:13:58","modified_gmt":"2022-12-08T19:13:58","slug":"economy-watch-real-gdp-surges-in-3q","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-real-gdp-surges-in-3q\/","title":{"rendered":"Economy Watch: Real GDP Surges in 3Q"},"content":{"rendered":"<p>By Dees Stribling, Contributing Editor<\/p>\n<div id=\"attachment_1004160505\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/BEA-GDP-Growth-1116-e1480514128427.png\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004160505\" data-attachment-id=\"1004160505\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-real-gdp-surges-in-3q\/bea-gdp-growth-1116\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/BEA-GDP-Growth-1116-e1480514128427.png\" data-orig-size=\"1377,623\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"BEA GDP Growth 1116\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Source: Bureau of Economic Analysis&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/BEA-GDP-Growth-1116-e1480514128427.png?w=1024\" loading=\"lazy\" class=\"size-medium wp-image-1004160505\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/BEA-GDP-Growth-1116-e1480514128427.png\" alt=\"Source: Bureau of Economic Analysis\" width=\"300\" height=\"136\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/BEA-GDP-Growth-1116-e1480514128427.png 1377w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/BEA-GDP-Growth-1116-e1480514128427.png?resize=300,136 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/BEA-GDP-Growth-1116-e1480514128427.png?resize=768,347 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/BEA-GDP-Growth-1116-e1480514128427.png?resize=1024,463 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004160505\" class=\"wp-caption-text\">Source: Bureau of Economic Analysis<\/p><\/div>\n<p>Consumers and especially businesses and governments joined forces during the third quarter to drive real U.S. GDP upward by an annualized 3.2 percent, according to a revised estimate released on Tuesday by the Bureau of Economic Analysis. The previous estimate was 2.9 percent, but in either case, that represents an improvement from the final second-quarter numbers, which put GDP up by an annualized 1.4 percent.<\/p>\n<p>Not only that, real gross domestic income increased an annualized 5.2 percent in the third quarter, compared with an increase of only 0.7 percent in the second.<\/p>\n<p>According to the BEA, the acceleration in real GDP in the third quarter primarily reflected an upturn in private inventory investment, or business spending. There was also an acceleration in exports, an upturn in federal government spending, and smaller decreases in state and local government spending and residential fixed investment.<\/p>\n<p>These factors were partly offset by a drop in personal consumption expenditures (PCE, or people out spending), an acceleration in imports, and a deceleration in nonresidential fixed investment (which is partly commercial real estate).<\/p>\n<p>Price increases are still moderate as well, the BEA said. Its price index for gross domestic purchases increased 1.5 percent in the third quarter, compared with an increase of 2.1 percent in the second quarter. The PCE price index increased 1.4 percent during the third quarter, compared with an increase of 2 percent during the previous quarter. Excluding food and energy prices, the PCE price index increased 1.7 percent during the third quarter, compared with an increase of 1.8 percent in the previous quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Consumer spending drove real US GDP up by 3.2 percent, marking the strongest growth in two years.<\/p>\n","protected":false},"author":1023,"featured_media":1004160505,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23891,21742],"tags":[32931,32814],"class_list":["post-1004160502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","category-latest","tag-bureau-of-economic-analysis","tag-gdp"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Economy Watch: Real GDP Surges in 3Q - 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