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.