US GDP Increases in Third Quarter
October 29, 2015 | BEAEstimated reading time: 1 minute
Real gross domestic product (GDP) increased 1.5 percent in the third quarter of 2015, according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.9 percent.
GDP highlightsQ2Q GDP 1029
The third-quarter increase in real GDP mainly reflected a rise in consumer spending. Spending on services increased, notably on health care. Spending on nondurable and durable goods also rose.
State and local government spending, business investment, exports, and residential investment also contributed to the increase in GDP.
Partly offsetting these contributions to GDP growth, private inventory investment fell, mainly in wholesale trade and in manufacturing.
Final sales of domestic product—GDP less inventory investment—increased 3.0 percent in the third quarter.
Personal income and saving
Real disposable personal income (DPI), which adjusts for taxes and inflation, rose 3.5 percent in the third quarter after increasing 1.2 percent in the second quarter.
Personal saving as a percentage of DPI was 4.7 percent in the third quarter, following 4.6 percent in the second quarter.
Prices
Prices of goods and services purchased by U.S. residents—gross domestic purchases prices— increased 1.3 percent in the third quarter after increasing 1.5 percent in the second quarter.
Prices of energy goods and services turned down in the third quarter, while food prices turned up.
Excluding food and energy, gross domestic purchases prices increased 1.3 percent in the third quarter after increasing 1.2 percent in the second quarter.
Suggested Items
VDMA: Machine Vision Navigating Through Uncertain Times
04/18/2024 | VDMAFor over a decade, the European machine vision industry has reported steady growth, with turnover increasing by an average of 9 percent annually between 2012 and 2022. Despite a temporary setback in 2020 (minus 4 percent) due to the Covid-19 pandemic, the industry rebounded strongly in 2021 (plus 17 percent) and 2022 (plus 11 percent).
RTX Provides Blue Canyon Satellite to Help Solve a Crucial Climate Challenge
04/16/2024 | RTXBlue Canyon Technologies, RTX's small satellite manufacturer and mission services provider, announced the successful launch and initial contact with the MethaneSAT satellite.
Europe’s IT, Business Services Sector on the Rebound in Q1: ISG Index
04/15/2024 | BUSINESS WIREEurope’s demand for IT and business services in the first quarter rose for the first time in a year, powered by growth from the banking, financial services and insurance (BFSI) sector, according to the latest state-of-the-industry report from Information Services Group (ISG), a leading global technology research and advisory firm.
Infineon Expands Leading Market Position in Automotive Semiconductors
04/11/2024 | InfineonInfineon Technologies AG continued to expand its leading market position in automotive semiconductors in 2023. According to the latest research by TechInsights, the global automotive semiconductor market grew by 16.5 percent in 2023, reaching a new record size of US$69.2 billion.
North American EMS Industry Up 4.1% in February
03/25/2024 | IPCIPC announced the February 2024 findings from its North American Electronics Manufacturing Services (EMS) Statistical Program. The book-to-bill ratio stands at 1.22.