Exports boost Q3 growth rate to its fastest in 2 years

Washington

THE US economy grew at its fastest pace in two years in the third quarter as a surge in exports and a rebound in inventory investment offset a slowdown in consumer spending.

Gross domestic product increased at a 2.9 per cent annual rate after expanding at a 1.4 per cent pace in the second quarter, the Commerce Department said on Friday in its first estimate. That was the strongest growth rate since the third quarter of 2014.