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U.S. Q3 GDP growth revised up to annual rate of 5.2 pct

Tan KW
Publish date: Thu, 30 Nov 2023, 08:11 AM
Tan KW
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WASHINGTON, Nov. 29 -- The U.S. real gross domestic product (GDP) growth in the third quarter of this year was revised up to an annual rate of 5.2 percent, compared with 4.9 percent in the "advance" estimate, the Commerce Department reported on Wednesday.

The update primarily reflected upward revisions to nonresidential fixed investment and state and local government spending that were partly offset by a downward revision to consumer spending, according to the "second" estimate released by the Bureau of Economic Analysis.

Imports, which are a subtraction in the calculation of GDP, were revised down.

The increase in real GDP in the third quarter reflected increases in consumer spending, private inventory investment, exports, state and local government spending, federal government spending, residential fixed investment, and nonresidential fixed investment.

 


  - Xinhua

 

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