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Economy in U.S. Probably Picked Up as Consumer Spending Climbed

The U.S. economy probably grew at a faster pace in the third quarter as consumer spending climbed, a sign the expansion is developing staying power, economists said before a report today.

Gross domestic product rose at a 2 percent annual pace, up from a 1.7 percent rate in the prior three months, according to the median estimate of 83 economists surveyed by Bloomberg News. Household purchases, about 70 percent of the economy, probably had the best quarter of the recovery that began in June 2009.