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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 ...

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