The revised 3.5 percent rate of GDP growth in the third quarter was higher than the prior estimate of 3.2 percent. What changed?
- Consumer spending rose at a 3 percent annual rate, up from the prior estimate of 2.8 percent.
- Business investments rose at a revised 1.4 percent rate, much stronger than the previous estimate of 0.1 percent.
- Exports rose by 10 percent, helped by a temporary boom in U.S. soybean shipments.