GDP continues Q3 expansion(Read article summary)
Real GDP increased at an annualized rate of 2.7 percent from Q2, according to the Bureau of Economic Analysis.
Today, the¬†Bureau of Economic Analysis¬†(BEA) released their second¬†"estimate" of the Q3 2012 GDP report¬†showing that the economy continued to expand with real GDP increasing at an annualized rate of 2.7% from Q2 2012.¬†
On a year-over-year basis, real GDP increased 2.67% while the quarter-to-quarter non-annualized percent change was 0.66%.¬†
The latest quarterly results indicate that the most notable source of weakness in the economy came from declines to fixed non-residential investment in structures, equipment and software with the nonresidential investment component declining at an annualized rate of -2.2% from Q2.¬†
Residential investment, on the other hand, worked to buoy the overall fixed investment component growing at an annualized rate of 14.2% from Q2.¬†
Keep in mind that these results are likely very poorly estimated and are sure to be revised notably in following quarters and even years to come.