WASHINGTON, November 23 — The U.S. Commerce Department’s Bureau of Economic Analysis today released the second estimate of gross domestic product (GDP) for the third quarter of 2010. Real GDP grew at a 2.5 percent annual rate in the third quarter, revised up from the advance estimate of 2.0 percent and slightly higher than private-sector expectations of a 2.4 percent increase. The upward revision reflected data that were not available for the advanced estimate.

The U.S. Commerce Department’s Bureau of Economic Analysis today released the second estimate of gross domestic product (GDP) for the second quarter of 2010. Growth in real GDP was lowered to 1.6 percent at an annual rate from the advance estimate of 2.4 percent. Most private-sector analysts had expected a revision to 1.4 percent in the second quarter. The downward revision reflected a wider trade deficit and lower inventories than were originally reported.

Washington, DC—The U.S. Department of Commerce released newly-developed Gross Domestic Product (GDP) statistics for American Samoa, Guam, the Commonwealth of the Northern Mariana Islands and the U.S. Virgin Islands. The statistics are a product of a joint effort of the Department of Commerce’s Bureau of Economic Analysis and the Interior Department’s Office of Insular Affairs. Policy makers will now have an objective view of the size of these economies, their growth or contraction, and their major components in order to conduct economic-impact analysis on the effects of local and national policy decisions. (More)

Washington, DC – A U.S. Department of Commerce report released today confirms the importance of exports to the U.S. economy and the increasingly globalized marketplace. According to Exports Support American Jobs, in 2008, exports accounted for a record 12.7 percent of U.S. gross domestic product (GDP), and during a period of relatively flat job growth across the economy, supported a record number of jobs – more than 10 million.

WASHINGTON, D.C. – The Commerce Department’s Bureau of Economic Analysis today released data on GDP in the third quarter.

Real GDP increased 3.5 percent at an annual rate in the third quarter, after declining in five of the preceding six quarters. The gain marked the largest quarterly advance since the third quarter of 2007. U.S. Commerce Secretary Gary Locke issued the following statement in response to the news.