US GDP Rose by 3.3% in Q3
The US economy grew faster than originally expected in the third quarter. The US gross domestic product grew by 3.3% year-on-year in the third quarter. This was the fastest pace since the third quarter of 2014. Earlier it was reported that the US economy grew by 3.0% in the period from July to September.
The economy experienced an increase of 3% or more in two quarters for the first time since 2014, as US GDP was 3.1% in the second quarter. Economists had expected that GDP growth in the third quarter would be raised to 3.2%.
Government spending increased by 0.4% in the third quarter. Preliminary data indicated a decrease of 0.1%. The change in the indicator reflects a revision towards an increase in the assessment of state spending on construction.