Skip to content

Third-Quarter GDP Rate Again Revised Downward

12/22/2011 11:00:00 AM
Write a Letter to the Editor

Print This

The U.S. economy rose at a slower rate than previously reported in the third quarter, growing at a 1.8% annual pace, the Commerce Department said Thursday.

The third-quarter gross domestic product growth rate was first reported at 2.5% in October, then was revised down to 2% last month.

GDP rose at a 1.3% rate in the second quarter.

Economists had forecast the rate would hold at 2% growth, which had been the fastest in a year, Bloomberg reported.

Consumer spending, which accounts for about 70% of the economy, grew at a 1.7% rate, down from a previously reported 2.3% rate.

Thursday’s third-quarter GDP figure was the third and final of three released by Commerce.

Follow Transport Topics on RSS Twitter Facebook

 Print This

© 2011, Transport Topics Publishing Group. All rights reserved.




Third-Quarter GDP Rate Again Revised Downward (12/22/2011 11:00:00 AM)
2011’s Surge in Freight Volume, Profits Had Trucking Outpacing U.S. Economy (12/19/2011 11:45:00 AM)
Freight Tonnage Index Rises 5.7% (11/28/2011 9:00:00 AM)
Editorial: Looking Toward 2012 (11/28/2011 8:00:00 AM)
Third-Quarter GDP Rate Revised Down to 2%, from 2.5% (11/22/2011 10:10:00 AM)
Truck Tonnage Rises 5.7% in October (11/22/2011 10:00:00 AM)

Click Here!

I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.
Tax, Accounting, Consulting - Emil Estafanous, CPA, CFF, CGMA