Spurred by continued strength among consumers and a better performance in global trade, the U.S. economy expanded at an annual rate of 2.9 percent in the third quarter (July-September), according to the Commerce Department’s report on the nation’s gross domestic product, released Friday (10/28/2016). The American economy remains largely on the same trajectory since the recovery began in 2009: slow but consistent growth.

Third Quarter Growth, 2016 (compared to same quarter, 2015)

+2.9% | Growth in overall U.S. economy
+10% | Growth of exports
+2.1% | Growth in consumer spending
-2.7% | Sales of new equipment

Previous Growth in First Two Quarters, 2016

+1% | Growth during January-June, 2016

Quote via NYTimes.com:

“Unlike some recent periods, which showed uneven gains, the growth in the third quarter was broad-based, with most industries advancing steadily. For the second quarter in a row, trade was a net positive, adding nearly a full point to growth on a big jump in exports.”

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