Real GDP rose 2.0 percent after rising 1.3 percent in the second quarter. Consumer spending and nonresidential investment picked up. State and local government spending decreased less. Corporate profits slowed.
Net government saving increased $64.6 billion to –$1,251.0 billion. Net federal government saving increased $102.6 billion to –$1,172.8 billion. Net state and local government saving decreased $38.0 billion to –$78.2 billion.