Third Quarter 2012 Revised GDP

Third Quarter GDP Revised Higher. From July to September, the economy grew faster than previously thought increasing from 2.7% in the second reading to 3.1% in the final GDP reading. This is the fastest growth since the fourth quarter of 2011 when the economy grew at a 4.1% rate. Gross Domestic Product is a measure of the total production and consumption of goods and services in the U.S. GDP components like consumer spending, business and residential investment, and price (inflation) indexes illuminate the economy's behavior.