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Source: US Department of Commerce Source: US Department of Commerce <br />12/21 3/22 6/22 9/22 <br />2.1% 0.9% 1.4% 1.0% <br />5.1% 1.0% -2.8% -1.6% <br />-0.2% -3.1% 1.2% 2.8% <br />0.0% -0.4% -0.2% 0.2% <br />-0.2% 0.0% -0.1% 0.2% <br />7.0% -1.6% -0.6% 2.6% <br />Gross Private Domestic Investment <br />Personal Consumption Expenditures <br />Components of GDP <br />Federal Government Expenditures <br />State and Local (Consumption and Gross <br />Investment) <br />Net Exports and Imports <br />Total <br />-35.0%-30.0%-25.0%-20.0%-15.0%-10.0%-5.0%0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0% <br />Gross Domestic Product (GDP) <br />GDP QOQ % Change <br />GDP YOY % Change <br />Gross Domestic Product (GDP) <br />According to the advance estimate,third quarter GDP increased at an annualized rate of 2.6%,following two quarterly contractions,due in part <br />to resilient consumers, businesses and net exports. Personal Consumption Expenditures,the biggest part of the economy,rose 1.4%primarily <br />due to continued strength in services spending.The consensus estimate calls for 0.6%growth in the fourth quarter and 1.7%growth for the full <br />year 2022. <br />10