The U.S. gross domestic product grew at an annualized rate of 2 percent in the third quarter of the calendar year, the U.S. Department of Commerce reported today, but spending for residential and structures was down from second-quarter levels.

Nonresidential investment was down for structures, but up for other kinds of projects, the department's Bureau of Economic Analysis said.

"Real nonresidential fixed investment increased 14.8 percent in the third quarter, compared with
an increase of 10.3 percent in the second," the report stated. The less-encouraging news for the construction industry was that "nonresidential structures increased 12.6 percent, compared with an increase of 22.6 percent."

Residential investment did not do as well in the quarter, either.

"Real residential fixed investment increased 1.6 percent, compared with an
increase of 4.2 percent," the BEA said.

Economists' predictions collected by major news outlets had been for a 2.3 percent GDP increase for the third quarter.