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US Q3 growth revised to three-year high of 3.3%

Economists see a modest boost to growth from efforts by President Donald Trump and his fellow Republicans

Reuters  |  Washington 

The US economy grew faster than initially thought in the third quarter, notching its quickest pace in three years, as increases in business investment in inventories and equipment offset a moderation in consumer spending. Gross domestic product expanded at a 3.3 per cent annual rate in the third quarter also boosted by a rebound in government spending, the Commerce Department said in its second GDP estimate on Wednesday. That was the fastest pace since the third quarter of 2014 and a pickup from the second quarter's 3.1 per cent rate. The economy was previously reported ...

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First Published: Wed, November 29 2017. 20:54 IST