GDP increases 3.1%

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 3.1 percent in the third quarter of 2012 (that is, from the second quarter to the third quarter), according to the "third" estimate released by the Bureau of Economic Analysis.  In the second quarter, real GDP increased 1.3 percent.   The full text of the release on BEA's Web site can be found at www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm