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%.