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The American economy expanded more in the third quarter of the year than earlier projections, according to the U.S. Commerce Department.
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The broadest measure of health of the nation’s economy shows it expanded at an annual rate of 3.6% in the third quarter of the year, more than originally reported, according to the U.S. Commerce Department on Thursday.
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A new report shows the American economy expanded in the third quarter of the year at a surprisingly higher rate than expected.
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Growth for the nation’s economy picked up dramatically in the second quarter of the year with the gross domestic product increasing at an annual rate of 2.5%.
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The U.S. economy grew less in the first quarter of the year than previously estimated, thanks to lower consumer spending numbers and fewer exports, but the final GDP number is still an improvement over the previous quarter.
Read More →The U.S. Commerce Department reports the gross domestic product expanded at an annual rate of 2.4%, down from 2.5% reported last month. The rate is still much higher than the 0.4% rate reported in the final quarter of last year.
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Retail sales and consumer confidence have taken a downturn, but the reasons for it aren’t clear, while producer prices fell and business inventories have barely moved higher.
Read More →Factory orders in December offered better economic news than last week's GDP numbers, though not as good as analysts were expecting.
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