Third Quarter GDP Revised from 3.0% to 3.3%

Real GDP grew at a seasonally adjusted annual rate of 3.3% during the third quarter of 2017, according to the Bureau of Economic Analysis’s second estimate, up from 3.0% in the “advance” estimate. The general picture of economic growth remained the same. This was the strongest quarterly reading in three years.

The upward revision reflected more business investment in equipment and software and higher government spending.

Personal consumption expenditures and exports were slightly downwardly revised, offsetting larger third quarter growth.

Read the BEA release.