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http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
http://mam.econoday.com/byshoweventfull.asp?fid=467025&cust=mam&year=2015&lid=0&prev=/byweek.asp#top
http://mam.econoday.com/byshoweventfull.asp?fid=467025&cust=mam&year=2015&lid=0&prev=/byweek.asp#top
Steady domestic spending helped to prop up GDP growth in the third-quarter which came in at an annualized 1.5 percent, just shy of expectations. Final sales rose a very respectable 3.0 percent in the quarter in a gain that points to underlying momentum for the fourth quarter. Both residential and nonresidential investment slowed in the third quarter with both net exports and especially inventories also pulling down GDP. The price index came in a little lower than expected at plus 1.2 percent.
Personal consumption expenditures slowed 4 tenths but are still a major highlight at a plus 3.2 percent rate. Service spending, an area insulated from global factors, continues to show solid resilience. But it was spending on durables, including vehicles, that was the strongest consumer category in the quarter. Government purchases, another area of domestic-centered spending, also contributed to the quarter's growth.
The quarter's 1.5 percent rate is only 2 tenths lower than the average growth of the prior four quarters and comes against a difficult 3.9 percent comparison in the second quarter. Not a great result but not bad either.
