This article first appeared on Floating Path.
The U.S. Bureau of Economic Analysis reports in its advance estimate for the third quarter of 2013 that real gross domestic product (GDP) increased at a seasonally adjusted annual rate of 2.84%. This is an increase from the Q2 growth rate of 2.48%.
This is also the fastest GDP growth has been since the first quarter of 2012.
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The seasonally adjusted annual rates of growth by GDP components in Q3 2013 – advance estimate:
- Personal Consumption Expenditures: +1.5% from +1.8% in Q2 2013.
- Fixed Investment: +4.1% compared to +6.5% in Q2 2013.
- Exports: +4.5% compared to +8.0% in Q2 2013.
- Imports: +1.9% compared to +6.9% in Q2 2013.
- Government Consumption Expenditures: +0.2% compared to -0.4% in Q2 2013.
GDP components are shown by their percentage contribution to total real GDP: