During the third quarter the U.S. economy grew at an annual rate of 2.7% according the U.S. Bureau of Economic Analysis.
The two major contributors to the increase in the size of the economy were national defense spending, contributing 0.64%, and an increase in nonfarm business inventories, contributing 1.16%. Ex national defense spending and inventory restocking the economy grew by 0.9% during the quarter.
While the total 2.7% increase was the best quarter of growth this year, ex national defense spending and businesses adding to inventories (which are not final sales to the customer), economic growth in the U.S. has not been as tepid since Q3 2010.
Data Source: U.S. Bureau of Economic Analysis