The 3.9% growth showed the following contributions from the major components:
Personal Consumption: 1.51% (was 1.22%)
Private Investment: 0.85% (was 0.17%)
Net Exports: 0.78% (was 1.32%)
Government: 0.76% (was 0.83%)
——–
TOTAL 3.90%
Personal Consumption showed Goods increasing by 0.97% (from 0.7%) while Service spending increased slightly from 0.54% from 0.52%
Private Investement: Inventories was a positive contributor as the reduction was lowered from -0.57% to -0.12% (change of +0.45%
Net Exports saw export growth slow from a 1.03% to 0.65% gain. Imports were also lower (+0.12% from 0.29%)
Government was fairly steady with Federal Government adding 0.67% (most defense) but state and local government contributing only 0.09% for the quarter.
Trends in GDP 3QS
