Today’s advance estimate from the Bureau of Economic Analysis showed
U.S. real GDP growing at a 2.8 percent annual rate in the third quarter
of 2013, the fastest growth reported since early 2012. The estimate,
which reflects economic activity from June through September, was not
directly affected by October’s government shutdown, although the data
release itself was somewhat delayed. In addition to the growth
estimates, the report includes a set of inflation indicators drawn from
the national income accounts. These showed that inflation remained below
the Fed’s 2 percent inflation target.
The advance estimate, which
the BEA bases on data from early in the quarter and extrapolations for
later months, is subject to significant revision. For example, the
advance estimate for Q2 was 1.7 percent. In the third and most recent
estimate for the quarter, that was raised to 2.5 percent.
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Follow this link to view or download a classroom-ready slideshow with complete charts of the latest GDP estimates
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