Advance report puts US GDP growth at 1.5 percent for Q3

Monday, 02 November 2015 01:19:57 (GMT+3)   |   San Diego
       

US real gross domestic product—the value of the goods and services produced by the nation’s
economy less the value of the goods and services used up in production, adjusted for price
changes—increased at an annual rate of 1.5 percent in the third quarter of 2015, according to the "advance" estimate released by the Bureau of Economic Analysis.  In the second quarter, real GDP increased 3.9 percent.

The Bureau emphasized that the third-quarter advance estimate released Friday is based on source data that are incomplete or subject to further revision by the source agency. The "second" estimate for the third quarter, based on more complete data, will be released on November 24, 2015.

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

Real GDP increased 1.5 percent in the third quarter, after increasing 3.9 percent in the second. The deceleration in real GDP in the third quarter primarily reflected a downturn in private inventory investment and decelerations in exports, in nonresidential fixed investment, in PCE, in state and local government spending, and in residential fixed investment that were partly offset by a deceleration in imports.


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