U.S. GDP grew at a 5.2% rate in the third quarter, even stronger than first indicated

Posted on AllSides November 29th, 2023
From The Center

The U.S. economy grew at an even stronger pace then previously indicated in the third quarter, the product of better-than-expected business investment and stronger government spending, the Commerce Department reported Wednesday.

Gross domestic product, a measure of all goods and services produced during the three-month period, accelerated at a 5.2% annualized pace, the department’s second estimate showed. The acceleration topped the initial 4.9% reading and was better than the 5% forecast from economists polled by Dow Jones.

Primarily, the upward revision came from increases in nonresidential fixed investment, which includes structures, equipment...

Read full story
Some content from this outlet may be limited or behind a paywall.
https://www.cnbc.com/2023/11/29/us-gdp-grew-at-a-5point2percent-rate-in-the-third-quarter-even-stronger-than-first-indicated.html

More News about Economy and Jobs from the Left, Center and Right

From the Left

From the Center

From the Right