Economic Growth

US Economy Grew Faster Than Expected in Q3, Says Commerce Dept

Government stats

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Reflecting upward revisions to private inventory investment and non-residential fixed investment, the Commerce Department released a report on Thursday showing that U.S. economic activity grew by much more than previously estimated in the third quarter of 2013.

The Commerce Department said U.S. gross domestic product increased by an upwardly revised 3.6 percent in the third quarter compared to the initial estimate of 2.8 percent growth. Economists had expected the pace of GDP growth to be revised to 3.1 percent.