US Growth Revised to 3.1% on Stronger Consumer Spending, Exports
- Gross domestic product expanded more than previously estimated
- Third-quarter figures also boosted by business, government
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The US economy expanded at a faster pace in the third quarter than previously estimated, owing in part to to stronger consumer spending and exports.
Gross domestic product increased at a 3.1% annualized rate in the July-to-September period, the third estimate of the figures from the Bureau of Economic Analysis showed Thursday. That compared to a previous projection of 2.8%.