U.S. Growth Speeds To 3.6 Percent Rate In Third Quarter

@AFP
U.S. Growth Speeds To 3.6 Percent Rate In Third Quarter

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

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

FBI Agents Probe Justice Barrett's 'Christian' Cult Over Sex Abuse Charges

Justice Amy Coney Barrett

When former President Donald Trump nominated Amy Coney Barrett for the U.S. Supreme Court in 2020, her critics were disturbed by her association with People of Praise — a far-right Christian group that combines Catholicism with elements of evangelical fundamentalist Protestantism.

Keep reading...Show less
Remembering A Great American: Edwin Fancher, 1923-2023

Norman Mailer, seated, Ed Fancher and Dan Wolf, founders of The Village Voice

If you are lucky in your life, you come to know one or two people who made you who you are other than your parents who gave you the extraordinary gift of life. Edwin Fancher, who it is my sad duty to inform you died last Wednesday in his apartment on Gramercy Park at the age of 100, is one such person in my life. He was one of the three founders of The Village Voice, the Greenwich Village weekly that became known as the nation’s first alternative newspaper. The Voice, and he, were so much more than that.

Keep reading...Show less
{{ post.roar_specific_data.api_data.analytics }}