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Q3 economic growth fastest in 3 years

US notches 3.3% expansion in GDP in the quarter, boosted by govt spending, increase in investment

Published Wed, Nov 29, 2017 · 09:50 PM

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    Washington

    THE US economy grew faster than initially thought in the third quarter, notching its quickest pace in three years, as increases in business investment in inventories and equipment offset a moderation in consumer spending.

    Gross domestic product (GDP) expanded at a 3.3 per cent annual rate in the third quarter, also boosted by a rebound in government spending, the Commerce Department said in its second estimate on Wednesday. That was the fastest pace since the third quarter of 2014 and a pickup from the second quarter's 3.1 per cent rate.

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