Let's take a deeper look into the data from today's report, starting with the largest percentage component of GDP, personal consumption expenditures or PCEs. You can click on all images for a larger image.
Total PCEs increased 2% from the preceding quarter, right in line with recent experience.
Services -- which comprise 65% of PCEs saw the largest increase since 2Q08.
Purchases of non-durable goods also increased, although at a lower rate than the previous quarter.
Durable goods purchases increase at a healthy pace.