US real gross domestic product rose by a 2.1% annual rate in the third quarter of 2021, a lower increase compared to 6.7% posted in the previous quarter.
Source: Bureau of Economic Analysis
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The rise in third quarter GDP reflected gains in private inventory investment, local government spending, personal consumption expenditures, and nonresidential fixed investment increases.
Gross domestic income rose by 6.7%, up from a gain of 4.3% in the second quarter.
Profits from current production increased by $121.4 billion, lower than an increase of $267.8 billion in the previous quarter.
Domestic financial corporations posted an increase of profits of $13.7 billion, down from a gain of $52.8 billion in the previous quarter. Nonfinancial corporations’ profits rose by $67.5 billion, down from an increase of $221.3 billion in the same period.
Profits from the rest of the world rose by $40.1 billion, up from a decline of $6.2 billion in the second quarter.
Gross domestic purchases price index rose by 5.5% in the third quarter, lower than a gain of 5.8% in the previous quarter.
The PCE price index cooled to 5.3%, from 6.5% in the second quarter. The price index rose by 4.5%, excluding volatile food and energy components, lower than 6.1% posted in the second quarter.