Q3 GDP Holds Steady at 3.5% in Second Estimate

Washington, DC, November 28, 2018-Real gross domestic product (GDP) increased at an annual rate of 3.5% in Q3 2018, according to the second estimate released by the Bureau of Economic Analysis. 

In the second quarter, real GDP increased 4.2%.

This GDP estimate is based on more complete source data than were available for the advance estimate issued last month. In the advance estimate, the increase in real GDP was also 3.5%. With this second estimate for the third quarter, the general picture of economic growth remains the same; upward revisions to nonresidential fixed investment and private inventory investment were offset by downward revisions to personal consumption expenditures and state and local government spending.