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Monday, December 09, 2019 {{ new Date().getDay() }}

Washington (United States) (AFP) – The U.S. economy grew at a speedy annual rate of 3.6 percent in the third quarter, significantly higher than initially estimated, the Commerce Department reported Thursday.

Gross domestic product growth was originally estimated at 2.8 percent for the July-September period. Most analysts expected that the pace of GDP expansion would be revised slightly upward to 3.0 percent.

The upward revision mainly reflected data showing a higher build in private inventory investment and nonresidential fixed investment than seen at the first estimate on November 7.

The strong third-quarter reading marked the fourth consecutive quarter of expansion in the world’s largest economy, and was the fastest growth since the 2012 first quarter’s 3.7 percent pace.

AFP Photo/Joe Raedle

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Jeff Danziger lives in New York City. He is represented by CWS Syndicate and the Washington Post Writers Group. He is the recipient of the Herblock Prize and the Thomas Nast (Landau) Prize. He served in the US Army in Vietnam and was awarded the Bronze Star and the Air Medal. He has published eleven books of cartoons and one novel. Visit him at DanzigerCartoons.