Economics
U.S. Economy Grew 2% in Third Quarter, Led by Consumer Spending
How Much Could the U.S. Economy Grow Next Year?
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The U.S. economy expanded at a revised 2 percent annualized rate in the third quarter, buoyed by consumer spending as businesses struggled to sell to overseas customers battered by sluggish growth.
The gain in gross domestic product followed a 3.9 percent advance in the second quarter, Commerce Department figures showed Tuesday in Washington. The median forecast of 76 economists surveyed by Bloomberg called for a 1.9 percent increase compared with the previously reported 2.1 percent pace.