Skip to content

Third-Quarter GDP Revised Up to 2.5%



Click Here!


 Updated:
11/23/2010 8:45:00 AM

The U.S. gross domestic product rose at a 2.5% annual rate in the third quarter, higher than originally estimated, the Commerce Department said Tuesday.

Commerce last month estimated third-quarter GDP growth at a 2% rate. Second-quarter GDP growth was 1.7%.

The revised level was about in line with analysts’ forecasts of 2.4% growth, Bloomberg reported.

Consumer spending, which accounts for about 70% of the economy, rose at a 2.8% rate, the fastest since the last quarter of 2006.

Tuesday’s GDP figure is the second of three to be put out by Commerce.

Click Here!




© 2010, Transport Topics Publishing Group. All rights reserved.

RELATED ARTICLES

Third-Quarter GDP Revised Up to 2.5% (11/23/2010 8:45:00 AM)
Third-Quarter GDP Rises 2% as Consumer Spending Grows (10/29/2010 10:40:00 AM)
Second-Quarter GDP Revised Up to 1.7% (9/30/2010 10:15:00 AM)
Second-Quarter GDP Revised Down to 1.6% (8/27/2010 9:00:00 AM)
Second-Quarter GDP Grows 2.4% (7/30/2010 9:00:00 AM)
UPS Earnings Soar 71% in 2Q; Firm Upbeat for Second Half (7/26/2010 3:30:00 AM)
 
OTHER NEWS BRIEFS

Click Here!

JOIN OUR NEWSLETTER
We'll deliver tax strategies to your inbox from our CPA firm.
We hate spam. Your email address will not be sold or shared with anyone else.