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THURSDAY, OCTOBER 29, 2015 GDP INCREASES IN THIRD QUARTER “Advance” estimate of GDP Real gross domestic product (GDP) increased 1.5 percent in the third quarter of 2015, according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.9 percent. State and local government spending, business investment, exports, and residential investment also contributed to the increase in GDP. Quarter-to-Quarter Growth in Real GDP 6 4 Percent GDP highlights The third-quarter increase in real GDP mainly reflected a rise in consumer spending. Spending on services increased, notably on health care. Spending on nondurable and durable goods also rose. 2 0 Partly offsetting these contributions to GDP growth, private inventory investment fell, mainly in wholesale trade and in manufacturing. -2 IV 2011 I II III 2012 IV I II III 2013 IV I II III 2014 IV I II III 2015 Real GDP growth is measured at seasonally adjusted annual rates. Final sales of domestic product—GDP less inventory investment—increased 3.0 percent in the third quarter. Personal income and saving Real disposable personal income (DPI), which adjusts for taxes and inflation, rose 3.5 percent in the third quarter after increasing 1.2 percent in the second quarter. Personal saving as a percentage of DPI was 4.7 percent in the third quarter, following 4.6 percent in the second quarter. Quarter-to-Quarter Percent Change in Gross Domestic Purchases Prices Prices Prices of goods and services purchased by U.S. residents—gross domestic purchases prices— increased 1.3 percent in the third quarter after increasing 1.5 percent in the second quarter. 2 Percent Prices of energy goods and services turned down in the third quarter, while food prices turned up. 3 1 0 Excluding food and energy, gross domestic purchases prices increased 1.3 percent in the third quarter after increasing 1.2 percent in the second quarter. -1 -2 IV 2011 I II III 2012 IV I II III IV I 2013 II III 2014 IV I II III 2015 Price growth measured at seasonally adjusted annual rates. BEA data—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic data for states, local areas, and industries—are available on the BEA Web site: www.bea.gov. E-mail alerts are also available. NOTE: The “second” estimate of GDP for the third quarter of 2015 and a preliminary estimate of corporate profits will be released on November 24, 2015. Contact: Jeannine Aversa (202) 606-2649 Bureau of Economic Analysis, U.S. Department of Commerce