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U.S. Economy Expanded 3.3% in Third Quarter
The U.S. real gross domestic product grew at an annualized 3.3% rate in July-September, according to a second estimate by the U.S. Bureau of Economic Analysis.
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The U.S. real gross domestic product grew at an annualized 3.3% rate in July-September, according to a second estimate by the U.S. Bureau of Economic Analysis.
The agency previously pegged growth for the period at 3.0%, compared with 3.1% in the second quarter. BEA says additional data prompted it to raise its estimates for nonresidential fixed investment, state and local government spending and private inventory investment.
Real gross domestic income also gained in the third quarter, expanding 2.5% compared with a revised 2.3% in the previous period. BEA says the price index in the third quarter rose 1.8% compared with 0.3% in the April-June. Economists consider 2% growth rate ideal.
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