WINNING: US Third-Quarter GDP Reaches A Breath-Taking 3.4%

   GDP growth for the third-quarter reached 3.4%. In the second quarter, the GDP growth was 3.5%, barely changing in the third-quarter.

  According to a BEA announcement, "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." "Profits of domestic non-financial corporations increased $83.0 billion, compared with an increase of $53.0 billion," the BEA noted. 

   "The increase in real GDP in the third quarter reflected positive contributions from PCE, private inventory investment, nonresidential fixed investment, federal government spending, and state and local government spending that were partly offset by negative contributions from exports and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased," according to the BEA.