The US Bureau of Economic Analysis (BEA) has estimated that the real gross domestic product (GDP) increased at an annual rate of 2.9% in the third quarter of 2016, a 1.5% increase from the second quarter.
The increase in real GDP in Q3 reflected positive contributions from personal consumption expenditures (PCE), exports, private inventory investment, federal government spending, and non-residential fixed investment.
Current-dollar GDP increased from $201.1bn in Q3 to a level of $18,651.2 trillion – a 4.4% increase. In the second quarter, current dollar GPD increased by $168.5bn (3.7%).
The price index for gross domestic purchases increased 1.6% in the quarter, compared with an increase of 2.1% in Q2. The PCE price index increased 1.4%, compared with an increase of 2.%.