November 29, 2017 – Gross Domestic Product (GDP) is the broadest measure of economic activity within a country and measures the market value of all final goods and services produced within a country over a certain period. There are four components GDP is created from: investment (including residential and nonresidential expenditures), consumption (including durable goods, non-durable goods, and services spending), government spending, and net exports.
The second estimate of real GDP increased at an annualized rate of 3.3% in the third quarter, in line with expectations. Consumer spending is up 2.3%, down 0.1% from last revision. Gross private investments came in at a 2.2% rate and government expenditures came in at 0.7%, while net exports came in at -5.8%.