BEA Releases Third Quarter GDP Estimate (third revision) (Dec. 2014)
The BEA released the third estimate of Third Quarter GDP on December 23rd. The report showed GDP increasing at a 5.0% annualized rate in the third quarter, which was the largest quarterly percentage increase since 2003. The 5.0% increase represented 1.1% increase over the previous estimate released in November. The year started off on a sour note, with GDP decreasing at 1.4% annualized rate in the first quarter, but the BEA has reported strong growth of 4.6% and 5.0% in the second and third quarters respectively. Combined with the continuing decline in unemployment in 2014, there is much to be thankful for as we ring in the New Year.
Check out the BEA release here: