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Sunday, July 21, 2019
HomeNewsEconomyFinal Q3 2018 GDP Estimate Pegs U.S. Economic Growth at 3.4%

Final Q3 2018 GDP Estimate Pegs U.S. Economic Growth at 3.4%

Gross domestic product (GDP) graphic concept. (Photo: AdobeStock)
Gross domestic product (GDP) graphic concept. (Photo: AdobeStock)
Gross domestic product (GDP) graphic concept. (Photo: AdobeStock)

The Bureau of Economic Analysis (BEA) said the “third” and final estimate for third-quarter (Q3) 2018 gross domestic product (GDP) came in at a strong 3.4%, down just 0.1% from the previous two estimates.

Real gross domestic income (GDI) rose 4.3% in Q3, compared with an increase of 0.9% in Q2.

The average of real GDP and real GDI, which is a supplemental measure of U.S. economic activity that equally weights GDP and GDI, gained 3.8% in Q3, compared with an increase of 2.5% in Q2.

Current-dollar GDP rose a solid 4.9%, or $246.3 billion, in Q3 to $20.66 trillion. In Q2, current-dollar GDP gained 7.6%, or $370.9 billion.

The price index for gross domestic purchases increased 1.8% in Q3, compared with an increase of 2.4% in the second quarter. The PCE price index increased 1.6%, compared with an increase of 2.0%.

Excluding food and energy prices, the PCE price index increased 1.6%, compared with an increase of 2.1%.

Written by
Data Journalism Editor

Rich, the People's Pundit, is the Data Journalism Editor at PPD and Director of the PPD Election Projection Model. He is also the Director of Big Data Poll, and author of "Our Virtuous Republic: The Forgotten Clause in the American Social Contract."

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