Q3 GDP Increases to 2.1% with Second Estimate

Washington, DC, November 24, 2015—Real gross domestic product increased at an annual rate of 2.1% in the third quarter of 2015, according to the second estimate released by the Bureau of Economic Analysis.

In the Bureau's advance Q3 report, the increase in real GDP was estimated at 1.5%, so the second estimate represents an increase.

The second GDP estimate is based on more complete source data than were available for the advance estimate issued last month. 

The increase in real GDP in the third quarter primarily reflected positive contributions from personal consumption expenditures, nonresidential fixed investment, state and local government spending, residential fixed investment, and exports that were partly offset by a negative contribution from private inventory investment. Imports, which are a subtraction in the calculation of GDP, increased. With the second estimate for the third quarter, the decrease in private inventory investment was smaller than previously estimated.

In the second quarter of the year, real GDP increased 3.9%.