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Third quarter US GDP up 3pc on to consumer spending, export growth
REAL gross domestic product (GDP) in the US rose at an annual rate of three per cent in the third quarter, according to the US Department of Commerce.
The improvement in real GDP in the third quarter reflected positive contributions from personal consumption expenditures (PCE), private inventory investment, non-residential fixed investment, exports, and federal government spending, according to the Bureau of Economic Analysis (BEA).
"These increases were partly offset by negative contributions from residential fixed investment and state and local government spending," the bureau said.
Imports, which are a subtraction in the calculation of GDP, declined.
Shipments of manufactured durable goods in September, which have been up four of the last five months, rose one per cent to $240.5 billion.
The improvement in real GDP in the third quarter reflected positive contributions from personal consumption expenditures (PCE), private inventory investment, non-residential fixed investment, exports, and federal government spending, according to the Bureau of Economic Analysis (BEA).
"These increases were partly offset by negative contributions from residential fixed investment and state and local government spending," the bureau said.
Imports, which are a subtraction in the calculation of GDP, declined.
Shipments of manufactured durable goods in September, which have been up four of the last five months, rose one per cent to $240.5 billion.
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