Washington, December 22 According to the final revised data released by the U.S. Department of Commerce on the 22nd, the gross domestic product (GDP) of the United States rose 33.4% at an annual rate in the third quarter of this year, up 0.3 percentage points from the previously released revised data.
According to the data, in the third quarter of this year, personal consumption expenditure, accounting for about 70% of the total U.S. economy, increased by 41% in the third quarter, which was the main driving force for economic growth in the quarter.
Non-residential fixed asset investment, reflecting the investment status of enterprises, increased by 22.9%, but still did not offset the decline of 27.2% in the previous quarter.
U.S. federal spending fell 6.2% in the third quarter as several federal spending plans launched in response to the epidemic expired.
In the previous quarter, federal spending increased by 16.4%.
The U.S. Department of Commerce usually estimates quarterly GDP data three times based on continuous improvement information.
The Department of Commerce will release preliminary fourth quarter GDP data and full-year 2020 data on January 28, 2021.
