Gross Domestic Product Third Quarter 2019 Second Estimate (Nov. 2019)

Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the third quarter of 2019 according to the \""second\"" estimate released by the Bureau of Economic Analysis. In the second quarter real GDP increased 2.0 percent.  The increase in real GDP in the third quarter reflected positive contributions from PCE federal government spending residential investment private inventory investment exports and state and local government spending that were partly offset by a negative contribution from nonresidential fixed investment. Imports which are a subtraction in the calculation of GDP increased.  The acceleration in real GDP in the third quarter reflected upturns in private inventory investment exports and residential fixed investment that were partly offset by decelerations in PCE federal government spending and state and local government spending and a larger decrease in nonresidential fixed investment.  

The upward revision to the percent change in real GDP in the third quarter reflected upward revisions to private inventory investment nonresidential fixed investment and PCE that were partly offset by a downward revision to state and local government spending.