US GDP Surges at 5.2% Rate, Outpacing Initial Estimates
TL;DR Summary
The US economy grew at a stronger pace than previously indicated in the third quarter, with a 5.2% annualized GDP growth rate. The upward revision was driven by better-than-expected business investment and increased government spending. However, consumer spending saw a downward revision. Inflation remained mixed, with a slight downward revision in the personal consumption expenditures price index but an upward move in the chain-weighted price index. Corporate profits also accelerated during the period.
Topics:top-news#business-investment#consumer-spending#economic-growth#economy#government-spending#us-gdp
- U.S. GDP grew at a 5.2% rate in the third quarter, even stronger than first indicated CNBC
- The US economy grew by 5.2% in the third quarter, even faster than previously estimated CNN
- US GDP Grows at Faster Pace Than Originally Estimated Bloomberg Television
- US economic growth for last quarter is revised up to a 5.2% annual rate Yahoo Finance
- Listen: Opening Bell, Truce Talks, More Bloomberg
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
1 min
vs 2 min read
Condensed
64%
204 → 73 words
Want the full story? Read the original article
Read on CNBC