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| Mr.Obhama American Presiden |
Cyber Daily News - The US economy in the third quarter grew more than expected, but the pace remains far below the pace of the second quarter, according to Commerce Department data released Tuesday.
In the July-September quarter, the gross domestic product - a broad measure of the economic output of goods and services - rose at a revised annual rate of 2.1 percent, stronger than the 1.5 percent pace in the initial estimates.
GDP growth although slightly stronger than the 2.0 percent level expected by analysts, still marks a slowdown from a strong expansion of 3.9 percent in the second quarter.
New data that varies less positive. The revision is largely due to a smaller decline in private inventory investment from the previous estimate, which offset a downward revision, especially for consumer spending.
Consumer spending, which drives about two-thirds of US economic activity, rose 3.0 percent in the third quarter, not 3.2 percent as previously estimated, according to AFP.
In the July-September quarter, the gross domestic product - a broad measure of the economic output of goods and services - rose at a revised annual rate of 2.1 percent, stronger than the 1.5 percent pace in the initial estimates.
GDP growth although slightly stronger than the 2.0 percent level expected by analysts, still marks a slowdown from a strong expansion of 3.9 percent in the second quarter.
New data that varies less positive. The revision is largely due to a smaller decline in private inventory investment from the previous estimate, which offset a downward revision, especially for consumer spending.
Consumer spending, which drives about two-thirds of US economic activity, rose 3.0 percent in the third quarter, not 3.2 percent as previously estimated, according to AFP.
