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BEA: Real GDP increased at 2.0% Annualized Rate in Q3

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by Calculated Risk on 10/28/2021 08:33:00 AM

From the BEA: Gross Domestic Product, Third Quarter 2021 (Advance Estimate)

Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the third quarter of 2021, according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 6.7 percent. …

The increase in real GDP in the third quarter reflected increases in private inventory investment, personal consumption expenditures (PCE), state and local government spending, and nonresidential fixed investment that were partly offset by decreases in residential fixed investment, federal government spending, and exports. Imports, which are a subtraction in the calculation of GDP, increased.
emphasis added

The advance Q3 GDP report, with 2.0% annualized growth, was below expectations.

I’ll have more later …

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