Part 3/10:
Consumer Spending: A significant driver, accounting for much of the growth, with notable increases in spending on non-durable goods, especially prescription drugs, and recreational vehicles. The latter's rise was particularly striking and somewhat concerning, as it indicates that consumers are still indulging in big-ticket discretionary items.
Government Spending: Both state and federal government expenditures contributed to the GDP expansion, reflecting ongoing fiscal activity.
Business Inventories and Residential Investment: Increased stockpiles and residential fixed investments also played roles, indicating some optimism about future demand and continued investment in housing.