U.S. Economy Grew 2.5 Percent In Q3
The nation's gross domestic product grew at an annual rate of 2.5 percent in the third quarter of 2011, according to an "advance" estimate by the Bureau of Economic Analysis.
The growth comes after a second-quarter increase of 1.3 percent.
The increase in the GDP came mostly from consumer spending, nonresidential fixed investment, exports and federal government spending. Areas slowing the growth included private inventory investment and state and local government spending. Imports, which are subtracted from GDP, increased.
Without adjusting for inflation, personal income increased 0.9 percent in the third quarter, compared with a 4.6-percent increase in the second. The personal savings rate, which reflects savings as a percentage of disposable income, was 4.1 percent in the third quarter, compared with 5.1 percent in the second.
WBJ Web Partners
Most Recent
Most Recent
0 Comments