Economy expands 3.9% in Q3, exceeding previous forecast

Washington

THE economy in the US expanded more than previously forecast in the third quarter, reflecting bigger gains in consumer spending and business investment and capping the strongest six months of growth in a decade.

Gross domestic product, the value of all goods and services produced, rose at a 3.9 per cent annualised rate, up from an initial estimate of 3.5 per cent, Commerce Department figures showed on Tuesday in Washington.