The U.S. economy grew more slowly in the first three months of this year. Stronger consumer spending was offset by cutbacks in government spending and by businesses restocking their shelves at a slower pace.
WASHINGTON — The U.S. economy grew at a 3.6% annual rate from July through September, the fastest since early 2012. But nearly half the growth came from a buildup in business stockpiles, a trend that could reverse in the current quarter and hold back growth.
The Commerce Department’s second estimate of third-quarter growth released Thursday was sharply higher than the initial 2.8% rate reported last month. And it was well above the 2.5% growth rate for the April-June quarter.
WASHINGTON — U.S. economic growth was far stronger than initially thought in the third quarter, pointing to strengthening fundamentals that should support the economy for the rest of the year. The Commerce Department on Tuesday raised its estimate of gross domestic product to a 3.9% annual pace from the 3.5% rate reported last month, reflecting upward revisions to business and consumer spending.
Growth had increased at a 4.6% rate in the second quarter. The economy has now experienced the two strongest back-to-back quarters of growth since 2003.
WASHINGTON — The U.S. economy grew at its quickest pace in 11 years in the third quarter, the strongest sign yet that growth has decisively shifted into higher gear.
The Commerce Department on Tuesday revised up its estimate of gross domestic product growth to a 5.0 per cent annual pace from the 3.9 per cent rate reported last month, citing stronger consumer and business spending than it had previously factored in.
WASHINGTON — The U.S. economy grew faster than expected in the third quarter as businesses restocked shelves, but a slowdown in consumer and business spending pointed to an underlying weakness.
Gross domestic product expanded at a 2.8% annual rate, the quickest pace since the third quarter of 2012, the Commerce Department said on Thursday. It was an acceleration from a 2.5% clip in the second quarter and beat economists’ expectations for a 2.0% rate.
WASHINGTON — The U.S. economy grew at its fastest pace in almost two years in the third quarter while business spending was stronger than previously estimated, pointing to some underlying strength that should be sustained.
Gross domestic product grew at a 4.1% annual rate instead of the 3.6% pace reported earlier this month, the Commerce Department said in its third estimate on Friday.
That was the quickest pace since the fourth quarter of 2011 and beat economists’ expectations for an unrevised 3.6% rate. The economy grew at a 2.5% pace in the April-June quarter.
WASHINGTON — The U.S. economy grew at a 0.1 percent annual rate from October through December, the weakest performance in nearly two years. But economists believe a steady housing rebound, stronger hiring and solid spending by consumers and businesses are pushing economic growth higher in the current quarter. The Commerce Department’s second estimate of fourth-quarter growth was only slightly better than its initial estimate that the economy shrank at a rate of 0.1 percent. And it was well below the 3.1 percent growth rate reported for the July-September quarter.