GDP grew 2.1 percent in 3rd quarter, more than first thought

The economy grew 2.1 percent in the third quarter of the year, 0.2 percentage points higher than reported in the first estimate from the Commerce Department.

“The increase in real GDP in the third quarter reflected positive contributions from PCE, federal government spending, residential investment, private inventory investment, exports, and state and local government spending that were partly offset by a negative contribution from nonresidential fixed investment,” Commerce’s report said.

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