The third and final estimate of third quarter U.S. GDP by the Bureau of Economic Analysis is out.
GDP grew 4.1% at an annualized rate in the third quarter, according to the estimate. Economists predicted growth of 3.6%, in line with the second estimate published by the BEA earlier this month.
Personal consumption growth surged to 2.0% from the previous 1.4% estimate.
The GDP price index came in at 2.0%, as expected, while core PCE was 1.4%, slightly below the previous 1.5% estimate.
A buildup in inventories contributed 1.7% to GDP growth in Q3, unchanged from the previous estimate (private businesses increased inventories $115.7 billion in the third quarter, following increases of $56.6 billion in the second quarter and $42.2 billion in the first.)
