US economy grows at fastest pace in 2 years, even
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The U.S. economy grew at its fastest rate in years, far exceeding economists’ projections for the third quarter.
In the third quarter — that’s July, August, and September — the U.S. economy was growing pretty fast. Gross domestic product rose 4.3%, according to the Bureau of Economic Analysis. That’s the highest quarterly GDP growth in two years and it was boosted mostly by consumer spending.
The data, which was delayed from October by the government shutdown, comes as the economy takes center stage for voters and the Trump administration.
The U.S. economy grew at an annualized rate of 4.3% in the third quarter in the government's initial estimate, marking an acceleration from 3.8% growth recorded in the previous quarter.
The U.S. economy grew at a faster rate than expected in the latest quarter, as some economists anticipated Americans to ramp up spending in recent months, according to delayed data released Tuesday by the Commerce Department.
Real GDP rose at an annualized rate of 4.3% in the third quarter, beating the 3.3% forecast and driven by strong consumer spending.