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US: Real GDP increased at an annual rate of 3.4% in Q3 vs 3.5% expected

"Real gross domestic product (GDP) increased at an annual rate of 3.4 percent in the third quarter of 2018, according to the "third" estimate," the Bureau of Economic Analysis reported on Friday.

Key takeaways from the press release

  •  In the second quarter, real GDP increased 4.2 percent.
  • With this third estimate for the third quarter, personal consumption expenditures (PCE) and exports were revised down, and private inventory investment was revised up; the general picture of economic growth remains the same.
  •  Real gross domestic income (GDI) increased 4.3 percent in the third quarter, compared with an increase of 0.9 percent in the second quarter. 
  • Current-dollar GDP increased 4.9 percent, or $246.3 billion, in the third quarter to a level of $20.66 trillion.
  • The price index for gross domestic purchases increased 1.8 percent in the third quarter.
  • The PCE price index increased 1.6 percent, compared with an increase of 2.0 percent.
  • Excluding food and energy prices, the PCE price index increased 1.6 percent, compared with an increase of 2.1 percent.

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