Third-Quarter Economic Growth Revised Higher to 3.3 Percent

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The U.S. 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 expanded at a 3.3 percent 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 percent rate.

The economy was previously reported to have grown at a 3.0 percent pace in the July-September period. It was the first time since 2014 that the economy …

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