The U.S. economy expanded at a 3.4 percent annualized rate in the third quarter, according to the advance estimate released Thursday by the Bureau of Economic Analysis, marking an acceleration from the 2.2 percent pace recorded in the second quarter.

The report arrives five days before the Nov. 3 midterm elections, offering voters a fresh snapshot of economic performance. Investment, consumer spending, and government spending all contributed to the increase, though a drop in exports and rise in imports partially offset the gains.

Current-dollar GDP rose 5.6 percent. The price index for gross domestic purchases increased 3.0 percent, while the personal consumption expenditures price index rose 2.1 percent.

Analysts and political observers will parse the numbers for signals on household finances and overall momentum heading into Election Day. Stronger growth can bolster arguments about economic stewardship, while any softening in components such as exports may draw scrutiny.

The BEA will issue a second estimate on Nov. 25. Markets and campaigns alike are expected to incorporate the latest reading into their assessments of the economic backdrop.

Early voting has already begun in many states, and the GDP figure joins other recent indicators in shaping the final stretch of the campaign season.