U.S. third-quarter GDP growth revised up to 2.1%
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(Worthy News) – U.S. economic growth picked up slightly in the third quarter, rather than slowing as initially reported, amid a stronger pace of inventory accumulation and a less steep decline in business investment.
Gross domestic product increased at a 2.1% annualized rate, the Commerce Department said in its second estimate of third-quarter GDP on Wednesday. That was up from the 1.9% pace estimated last month.
The economy grew at a 2.0% pace in the April-June period. Economists polled by Reuters had forecast third-quarter GDP growth would be unrevised at 1.9%. [ Source: Reuters (Read More…) ]
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