U.S. Q3 GDP Growth At 3.5%

Real gross domestic product increased at a seasonally adjusted annual rate of 3.5% in the third quarter, the BEA published this morning. This was the initial estimate for Q3, and follows a growth rate of 4.6% in the second quarter.

Components of GDP by their contributions to GDP growth in Q3:

  • Personal consumption expenditures: +1.22%
  • Private investment: +0.17%
  • Net Exports: +1.32%
  • Government Consumption: +0.83%

GDP Contributions

Nominal GDP was at an annualized $17,535.4 trillion in Q3, while real (inflation adjusted, 2009 chained) GDP was $16,150.6 trillion.

GDP Nominal

Real GDP is up 2.3% from Q3 2013.

GDP Annual

The US Manufacturing Regional Shift

A recent presentation from the U.S. Bureau of Economic Analysis includes the below depiction of the regional shift in U.S. manufacturing. From 1981 to 2011, manufacturing activity moved out of the New England, Great Lakes, and Mideast regions and moved into the Southwest, Southeast, and Far West regions.

Share-of-US-Manufacturing-GDP-by-Region