Us Economy Grows Faster Than First Thought In Third Quarter But growth in consumer spending, which accounts for more than two thirds of u.s. economic activity, was lowered to a still solid 3.6% rate. the downgrade from the previously estimated 4.0% growth. It was the fastest pace of expansion since the fourth quarter of 2021. economists polled by reuters had expected gdp growth would be revised up to a 5.0% rate. the economy grew at a 2.1% pace in.
Us Economy Grows A Bit Faster Than First Thought After a robust third quarter, the us economy is widely expected to grow at a much slower rate in final months of the year as pandemic savings dwindle and interest rates remain at a 22 year high. Gross domestic product increased at a 5.2% annualized rate last quarter, revised up from the previously reported 4.9% pace, the commerce department's bureau of economic analysis (bea) said in its. The economy grew even faster in the third quarter than the supercharged pace that officials first estimated last month. the inflation adjusted gross domestic product grew at an annual rate of 5.2%. Higher wages contributed to the economy growing at a 1.5% rate last quarter, the fastest in a year, when measured from the income side. gross domestic income (gdi) increased at a rate of 0.5% in.
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