According to the third estimate for gross domestic product (GDP) growth in the third quarter of 2014, real GDP expanded at an annualized rate of 5.0 percent, a faster rate than the second GDP reading of 3.9 percent and the advance GDP reading of 3.5 percent. Upward revisions were made to consumer spending and nonresidential equipment and software, and net exports were revised downward. Much of the growth was attributed to contributions from consumer spending.
