Third Quarter GDP Revised Up to 3.5%

Washington, DC, December 22, 2016—Real gross domestic product increased at an annual rate of 3.5% in the third quarter of 2016, according to the third estimate released by the Bureau of Economic Analysis.

In the second quarter, real GDP increased 1.4%.

The GDP estimate 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 3.2%.

With this third estimate for the third quarter, nonresidential fixed investment, personal consumption expenditures, and state and local government spending increased more than previously estimated, but the general picture of economic growth remains the same.