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December 22, 2021US GDP 2021 Q3 (THIRD ESTIMATE) 
Today, the Bureau of Economic Analysis released the third estimate of Q3 2021 US Real Gross Domestic Product (GDP).
US real GDP growth was revised up 0.2 percentage points to 2.3% (seasonally adjusted annualized rate) in Q3 2021. This quarter's result follows growth of 6.7% in the previous quarter and is the fifth consecutive quarter of GDP growth as the US economy rebounds from pandemic restrictions in the first half of 2020. US real GDP exceeded pre-pandemic (Q4 2019) levels by 1.4% in Q3 2021.
US economic growth in the third quarter reflected a smaller decline in private inventory investment (wholesale and retail trade), personal consumption expenditures (due to growth in services as goods expenditure declined), state and local government spending (primarily on employee compensation) and non-residential fixed investment (intellectual property products gains offset declines in structures and equipment). These positive contributions were partially offset by declines in residential fixed investment, federal government spending, and exports. Imports increased for the quarter. Upward revisions to personal consumption expenditure and inventories but partially offset by downward revisions to exports.
Current-dollar GDP increased 8.4% at an annualized rate, revised up 0.3 percentage points. The personal consumption expenditure price index increased 5.3% in Q3 compared to 6.5% in Q2. Excluding food and energy prices, personal consumption expenditure prices increased 4.6% in Q3 and 6.1% in Q2
Source: US Bureau of Economic Analysis
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