Q3 GDP Revised Up to 3.2% in Third Estimate
Washington, DC, December 22, 2022-Real gross domestic product (GDP) increased at an annual rate of 3.2% in Q3 2022, according to the third estimate released by the Bureau of Economic Analysis.
In Q2, real GDP decreased 0.6%.
The third estimate of GDP released today 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 2.9%. The updated estimates primarily reflected upward revisions to consumer spending and nonresidential fixed investment that were partly offset by a downward revision to private inventory investment.