The U.S. GDP grew by 2.6% in the third quarter after declining for the last six months of the year, according to a report by the Bureau of Economic Analysis (an agency of the U.S. Department of Commerce), its results are cited by The Wall Street Journal.
The growth occurred mainly due to a reduction in the trade deficit: American retailers imported fewer goods and exported more goods, as well as services such as travel. The WSJ notes that this is a sharp change from the beginning of the year, when the difference between goods imported and exported from the country became the largest in history. In addition, the improvement in the GDP indicator was influenced by the fact that Americans continued to spend money on health care. Increased government spending at the federal, state and local levels also contributed to the growth, the WSJ writes.