{"id":37479,"date":"2023-11-29T15:13:30","date_gmt":"2023-11-29T15:13:30","guid":{"rendered":"https:\/\/isafespend.com\/news\/u-s-gdp-grew-at-a-5-2-rate-in-the-third-quarter-even-stronger-than-first-indicated\/"},"modified":"2023-11-29T15:13:31","modified_gmt":"2023-11-29T15:13:31","slug":"u-s-gdp-grew-at-a-5-2-rate-in-the-third-quarter-even-stronger-than-first-indicated","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=37479","title":{"rendered":"U.S. GDP grew at a 5.2% rate in the third quarter, even stronger than first indicated"},"content":{"rendered":"
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The U.S. economy grew at an even stronger pace then previously indicated in the third quarter, the product of better-than-expected business investment and stronger government spending, the Commerce Department reported Wednesday.<\/p>\n

Gross domestic product, a measure of all goods and services produced during the three-month period, accelerated at a 5.2% annualized pace, the department’s second estimate showed. The acceleration topped the initial 4.9% reading and was better than the 5% forecast from economists polled by Dow Jones.<\/p>\n

Primarily, the upward revision came from increases in nonresidential fixed investment, which includes structures, equipment and intellectual property. The category showed a rise of 1.3%, which still marked a sharp downward shift from previous quarters.<\/p>\n

Government spending also helped boost the Q3 estimate, rising 5.5% for the July-through-September period.<\/p>\n

However, consumer spending saw a downward revision, now rising just 3.6%, compared with 4% in the initial estimate.<\/p>\n

There was some mixed news on the inflation front. The personal consumption expenditures price index, a gauge the Federal Reserve follows closely, increased 2.8% for the period, a 0.1 percentage point downward revision. However, the chain-weighted price index increased 3.6%, a 0.1 percentage point upward move.<\/p>\n

Corporate profits accelerated 4.3% during the period, up sharply from the 0.8% gain in the second quarter.<\/p>\n

Don’t miss these stories from CNBC PRO:<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. economy grew at an even stronger pace then previously indicated in the third quarter, the product of better-than-expected business investment and stronger government spending, the Commerce Department reported Wednesday. Gross domestic product, a measure of all goods and services produced during the three-month period, accelerated at a 5.2% annualized pace, the department’s second<\/p>\n","protected":false},"author":1,"featured_media":37480,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-37479","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"\nU.S. GDP grew at a 5.2% rate in the third quarter, even stronger than first indicated | iSafeSpend<\/title>\n<meta name=\"description\" content=\"The U.S. economy grew at an even stronger pace then previously indicated in the third quarter, the product of better-than-expected business investment and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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