U.S. Economic Growth Accelerated Last Quarter

2.9%

“U.S. economic growth accelerated last quarter, easing fears of a near-term slowdown but doing little to change the trajectory of a long but weak expansion,” the Wall Street Journal reports. “Gross domestic product expanded at a 2.9% annual rate in the third quarter, the Commerce Department said. That was stronger growth than the second quarter’s pace of 1.4%. Economists surveyed by The Wall Street Journal expected growth at a 2.5% pace for the July-to-September period. Last quarter’s growth rate was the fastest recorded in two years.”

Economy Growing at Fastest Pace in a Decade

3.9%

Rate at which the gross domestic product, the broadest measure of goods and services produced across the economy, grew in the third quarter, the Commerce Department said Tuesday. The agency had previously estimated the third quarter’s growth rate at 3.5%. “The economy expanded at its fastest pace in more than a decade during the spring and summer, showing the U.S. sits on a solid foundation despite increasing global uncertainty,” the Wall Street Journal reports.