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

  • World
  • Thursday, 30 Nov 2023

WASHINGTON, Nov. 29 (Xinhua) -- 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.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In World

Albanian parliament ratifies migration deal with Italy
Kremlin says Biden calling Putin a 'crazy SOB' debases the U.S
India's Modi says committed to farmers' welfare, protesting leaders call meeting
Spanish court gives Brazil's Dani Alves 4-1/2 years for sexual assault
How life in Ukraine has been shattered by two years of war
Ukraine leader downplays loss of Avdiivka, seeks faster support
Australian retired bishop charged with child sex abuse
Sydney martial arts instructor denied bail for murder of family of three
South Korea hospitals on red alert as doctors ramp up protests
‘It’s frightening’: YouTubers split over OpenAI’s video tool Sora

Others Also Read