U.S. Third Quarter GDP Revised Up to 3.5% Gain
Source: The Wall Street Journal.
U.S. Third Quarter GDP Revised Up to 3.5% Gain
But the stronger gains only help bring the years growth rate back in line
By Eric Morath and Jeffrey Sparshott
Eric.Morath@wsj.com
@EricMorath
https://twitter.com/EricMorath
Jeffrey.Sparshott@wsj.com
@jeffsparshott
https://twitter.com/jeffsparshott
Updated Dec. 22, 2016 9:31 a.m. ET
WASHINGTON - The U.S. economy advanced at a faster pace last quarter than previously estimated, but the stronger gains only help bring the years growth rate back in line with the long, sluggish expansion.
Gross domestic product, a broad measure of the goods and services produced across the economy, expanded at an inflation- and seasonally adjusted annual rate of 3.5% in the third quarter, the Commerce Department said Thursday. The rate was revised up from last months 3.2% estimate, and is the strongest quarterly pace of growth in two years.
Economists surveyed by The Wall Street Journal expected growth would be revised up to a 3.3% pace for the July through September period. Growth accelerated from a 1.4% advance in the second quarter and a 0.8% increase in the first three months of the year.
The latest data showed stronger consumer spending on services and better business investment in buildings and intellectual property.
Read more: http://www.wsj.com/articles/u-s-third-quarter-gdp-revised-up-to-3-5-gain-1482413502
I'll try linking to the Department of Commerce site, but it can be a real mess.
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