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Alexander Chute Economist
Tel: 902-424-5810Email:

December 21, 2017

In the third quarter of 2017, the US economy grew at an annualized rate of 3.2 per cent, according to the third estimate from the Bureau of Economic Analysis, an decrease from the second estimate of 3.3 per cent. Real GDP Growth in the second quarter was 3.1 per cent.  Nominal GDP increased 5.3 per cent, compared to growth of 4.1 per cent in Q2 with the personal consumption expenditure price index rising 1.7 per cent in Q3 compared to 0.9 per cent in Q2.

Real GDP growth reflects positive contributions from personal consumption (though lower than in the second estimate), inventories, nonresidential investment, exports and federal government spending. There was lower activity for residential and state/local government spending (though revised up from the second estimate). Imports decreased compared to last quarter.

The slight acceleration of US GDP in the second quarter reflects increased investment in inventory accumulation - 




Source: US Bureau of Economic Analysis

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