You are here: Home » International » News » Economy
Business Standard

US Q3 GDP rises 3.2%; weekly jobless claims increase 20,000

Economists are forecasting a modest economic boost from the US tax overhaul

Reuters  |  Washington 

The US economy grew at its fastest pace in more than two years in the third quarter, powered by robust business spending, and is poised for what could be a modest lift next year from sweeping tax cuts passed by Congress this week. Other data on Thursday showed a jump in the number of Americans filing for unemployment benefits last week. The underlying trend in jobless claims, however, remained consistent with a tightening labour market. Gross domestic product expanded at a 3.2 per cent annualized rate last quarter, the Commerce Department said in its third GDP estimate for the ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, December 21 2017. 21:05 IST