Economist takes a fresh look at leisure economics
Real GDP increased 3.5 percent, reflecting positive contributions from consumer spending, exports, inventory investment, nonresidential fixed investment, and federal government spending.
The current-account deficit decreased $5.3 billion to $113.0 billion. In the financial account, net U.S. borrowing increased $167.0 billion to $207.9 billion.
This annual report presents current-account statistics that integrate information on sales by multinational enterprises through affiliates as well as through cross-border trade.
The net international investment position was –$7,781.1 billion at the end of the third quarter, up from –$8,026.9 billion at the end of the second quarter.
In the second quarter of 2016, real GDP by state increased in 41 states and the District of Columbia. Real GDP by state growth ranged from 4.3 percent in Nebraska to –5.6 percent in North Dakota.
In the third quarter of 2016, state personal income slowed in California, Florida, and 22 other states but picked up in 19 states. Growth ranged from 0.4 percent in Oklahoma to 1.4 percent in South Dakota.