Third-quarter GDP growth raised to 4.1%

Washington

THE US economy grew at its fastest pace in almost two years in the third quarter while business spending was stronger than previously estimated, pointing to some underlying strength that should be sustained.

Gross domestic product (GDP) grew at a 4.1 per cent annual rate instead of the 3.6 per cent pace reported earlier this month, the Commerce Department said in its third estimate yesterday.

That was the quickest pace since the fourth quarter of 2011 and beat economists' expectations for an…