Sustainable, non-inflationary growth....
The U.S. real Gross Domestic Product (GDP) increased at an annual rate of 2.8% in the third quarter of 2024, according to the second estimate from the Bureau of Economic Analysis (BEA). This growth was driven by increases in consumer spending, exports, and federal government spending, and was an upward revision from the previous estimate.
Sounds pretty good.
The U.S. real Gross Domestic Product (GDP) increased at an annual rate of 2.8% in the third quarter of 2024, according to the second estimate from the Bureau of Economic Analysis (BEA). This growth was driven by increases in consumer spending, exports, and federal government spending, and was an upward revision from the previous estimate.
- Real GDP Growth: Increased by 2.8% at an annual rate.
- Nominal GDP Growth: Current-dollar GDP increased 4.7% at an annual rate, or $337.6 billion.
- Key Drivers: The growth was fueled by surges in consumer spending, exports, and federal government spending.
- Revisions: The "second" estimate was an upward revision from the advance estimate, which also showed a solid pace of growth, say LBM Journal and CBS News, reported CBS News.
- Corporate Profits: Preliminary data for corporate profits was also released alongside the GDP figures.
- Related Data: Current-dollar personal income increased by $175.9 billion, though this was a downward revision from the previous estimate.
- Revisions: The "second" estimate was an upward revision from the advance estimate, which also showed a solid pace of growth, say LBM Journal and CBS News, reported CBS News.
Sounds pretty good.