Gross Domestic Product increases in third quarter

Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the third quarter of 2017.

That is according to the “advance” estimate released by the U.S. Bureau of Economic Analysis.

In the second quarter, real GDP increased 3.1 percent.

The Bureau emphasized that the third-quarter advance estimate released this fall is based on source data that is incomplete or subject to further revision by the source agency.

The “second” estimate for the third quarter, based on more complete data, is to be released this week. The increase in real GDP in the third quarter reflected positive contributions from personal consumption expenditures (PCE), private inventory investment, nonresidential fixed investment, exports and more.