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Log In / Register | Jul 21, 2018

U.S. Third Quarter GDP Bumped Up to 3.3 Percent

The Bureau of Economic Analysis of the U.S. Department of Commerce today announced it has adjusted the real gross domestic product to have grown at 3.3 percent in the third quarter of 2017, seasonally adjusted.

Real GDP growth for the United States, chart from U.S. Dep't of Commerce BEAThat second estimate of a total of three by the bureau for the third quarter is based on more data that has come in. Real GDP growth has been nudged up from its advance estimate for the third quarter from last month of 3.0 percent. This revision places the quarter as the United States' highest growth in three years.

GDP for the United States has grown at 3.1 percent in its second quarter and 1.2 percent for its first quarter of 2017. This latest number is an indication of the strong economic environment that U.S. small businesses and franchises are taking part in. The Bureau said that growth in real GDP for the third quarter reflected an acceleration of private inventory investment, smaller decreases in state and local government spending, and a downturn in imports.

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