Real GDP also increased, by $67.7 billion to $13.6 trillion. Nominal GDP increased $190 billion in the third quarter to $15.8 trillion. This is an increase of 1.2%. Influencing this increase were gains in personal expenditures and private investment. The value of exports and imports both fell, but exports fell less leading to a trade deficit decline. Federal spending fell slightly across all sectors, but state and local spending grew $1.3 billion, causing an overall increase in government expenditures and investment.
For more information, see our GDP report.
–From the St. Louis Federal Reserve and the Bureau of Economic Analysis