The nation’s real gross domestic product growth accelerated in the third quarter, driven by gross private domestic investment, including information processing equipment, according to a data released Thursday (Oct. 29) by the Bureau of Economic Analysis (BEA).
Real GDP grew at an annual rate of 3.4% in the third quarter. That figure was up from 2.2% in the second quarter, according to a Thursday BEA press release outlining the GDP advance estimate for the third quarter.
“The contributors to the increase in real GDP in the third quarter were increases in investment, consumer spending and government spending that were partly offset by a decrease in exports,” the BEA said in the release. “Imports, which are a subtraction in the calculation of GDP, increased.”
The BEA added in the release: “Compared to the second quarter, the acceleration in real GDP in the third quarter…
