US Economy Grew Robust 39 in Q3

Copyright Atsushi Tomura,Getty Images

US Economy Grew Robust 3.9% in Q3

Contributing to the improved number was an upward revision to business inventory investment, especially in the wholesale trade and retail trade sectors.

As business investment and consumer spending picked up, the U.S. economy grew at a robust 3.9% pace in the third quarter, the Commerce Department said Tuesday.

Gross domestic product growth for July-September was revised from the initial estimate of a 3.5% annual rate, following 4.6% in the second quarter.

The number was unexpected; economists had predicted that the second official estimate for the quarter would be pared to 3.2%.

Contributing to the improved number was an upward revision to business inventory investment, especially in the wholesale trade and retail trade sectors.

Consumer spending, which accounts for about two-thirds of the GDP, was stronger than previously estimated, increasing 2.2%.

Copyright Agence France-Presse, 2014

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