US third quarter growth fastest in three years at 3.3%
US third quarter growth fastest in three years at 3.3%
Washington - Egypt Today
The US economy posted its best performance in three years in the third quarter, growing even faster than initially reported, according to official data released Wednesday.
The revised figures showed growth remains resilient despite back-to-back hurricanes in late summer that barely left a scratch on the world's largest economy.
GDP growth in the July-September quarter was revised up to 3.3 percent, three tenths of a point higher than the initial estimate and the strongest performance since the third quarter of 2014.
The result means growth has surpassed the White House's three-percent target for the second quarter in a row, after expanding 3.1 percent in the April-June period. However, but the grwoth rate for the full year is likely to come in closer to 2.5 percent.
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