November 27, 2024 – 7:21 AM PST
WASHINGTON (Reuters) – The U.S. economy grew at a solid clip in the third quarter, the government confirmed on Wednesday, amid robust consumer spending.
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Gross domestic product increased at an unrevised 2.8% annualized rate, the Commerce Department’s Bureau of Economic Analysis said in its second estimate of third-quarter GDP.
Economists polled by Reuters had forecast GDP would be unrevised. Slight downward revisions to consumer spending, government outlays and exports, were offset by upgrades to private inventory accumulation, business investment as well as state and local government spending.
The economy grew at a 3.0% pace in the April-June quarter. It is expanding at a pace that is well above what Federal Reserve officials regard as the non-inflationary growth rate of…
