REAL GROSS domestic product (GDP) increased 2.8 percent at an annual rate in the third quarter of 2013, according to the advance estimates of the national income and product accounts (NIPAs) (chart 1 and table 1). In the second quarter of 2013, real GDP increased 2.5 percent. The acceleration in real GDP growth in the third quarter primarily reflected a deceleration in imports and accelerations in inventory investment and in state and local government spending that were partly offset by decelerations in exports, in nonresidential fixed investment, and in consumer spending.
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