Economics
U.S. Growth at Above-Forecast 3% on Consumers and Businesses
U.S. Economy Grew Above Forecast at 3% in 3Q
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The U.S. economy expanded at a faster pace than forecast in the third quarter, indicating resilient demand from consumers and businesses even with the hit from hurricanes Harvey and Irma, Commerce Department data showed Friday.
While GDP grew more than anticipated, analysts look to another key measure to assess the true health of the economy. Final sales to domestic purchasers, which strip out trade and inventories -- the two most volatile components of the GDP calculation -- climbed 1.8 percent, the slowest since early 2016, after rising 2.7 percent in prior quarter.