GDP Revised Up to 2.3% for Q3

Washington, DC, December 22, 2021-Real gross domestic product (GDP) increased at an annual rate of 2.3% in Q3, according to the third estimate released by the Bureau of Economic Analysis. In Q2, real GDP increased 6.7%.

The third estimate of GDP is based on more complete source data than were available for the second estimate issued last month. In the second estimate, the increase in real GDP was 2.1%. The update primarily reflects upward revisions to personal consumption expenditures (PCE) and private inventory investment that were partly offset by a downward revision to exports.