US Economy Growing Faster Than Forecast

GDP up two percent

Economic growth in the U.S. was stronger than forecast in the third quarter, propelled by gains in consumer spending, defense outlays and homebuilding.

Gross domestic product, the value of all goods and services produced, rose at a 2 percent annual rate after climbing 1.3 percent in the prior quarter, Commerce Department figures showed today in Washington. The median forecast of 86 economists surveyed by Bloomberg called for a 1.8 percent gain.