U.S. Q3 GDP provisional growth rate of nearly 3%... "Consumption and exports drive"

The U.S. Commerce Department reported a 2.8% increase in U.S. gross domestic product in the third quarter.

The provisional GDP figures released this time are the same as the breaking news released last month, and are in line with expert forecasts.

Consumer spending, which accounts for two-thirds of the U.S. economy, rose 3.5% and exports rose 7.5%, the biggest growth in a year and a half and two years, respectively.

The Commerce Department explained that GDP was close to 3% due to higher consumer spending, exports and federal spending.

The personal consumption expenditure price index, a price indicator valued by the Federal Reserve, was 1.5% in the third quarter, the same as the breaking news.

Excluding volatile food and energy, the core personal consumption expenditure price index was revised down to 2.1% from a breaking news reading of 2.2%, moving closer to its 2% price target.