Economy
US third-quarter growth higher than expected
Both consumer spending was stronger and inventory investment was higher than expected
25.11.2014 - Update : 25.11.2014
ANKARA
The U.S. economy grew faster than expected in the third quarter, according Commerce Department statistics released on Tuesday.
The national gross domestic product -- the broadest measure of goods and services -- increased at an annual rate of 3.9 percent in the third quarter of this year.
The reading was well above agency estimates from last month of 3.5 percent growth for the quarter.
Consumer spending was stronger than previously estimated and investment by businesses in inventory was significantly higher.
In the second quarter, real GDP had increased by 4.6 percent, and with today's reading, it is the best six-month period for the U.S. economy since 2003.
Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
