Real GDP increased 2.6 percent after increasing 1.7 percent in the second quarter. Imports slowed. Inventory investment and consumer spending picked up. Residential investment turned down.
In 2009, 16 of 22 major industry groups contributed to the 2.6 percent decrease in real GDP; durable-goods manufacturing and professional, scientific, and technical services turned down, and construction continued to contract.
The U.S. current-account deficit increased $4.0 billion to $127.2 billion. The surplus on income decreased, and the deficit on goods increased. In the financial account, net financial inflows increased $150.7 billion to $181.6 billion.
An annual supplement to the international accounts presents current-account statistics that combine cross-border trade and net receipts of affiliates of multinational companies.
In the third quarter of 2010, state personal income slowed in 41 states, picked up in 6 states, and was unchanged in 3 states. Compensation decreased in two-thirds of the 3,113 counties in 2009.
Upcoming in the Survey...
The Reliability of the GDP and GDI Estimates of U.S. Economic Activity. An evaluation of the revisions to these principal NIPA estimates.
Research Spotlight. Technological trends in the microprocessor industry.