The American economy grew at an annual rate of 2.8 percent in the third quarter, significantly better than economists had expected and the fastest pace this year.
The Commerce Department report had originally been scheduled to come out on Oct. 30, but was delayed by the government shutdown last month. Economists surveyed by Bloomberg News had estimated an annual growth rate of 2 percent in the third quarter, but that forecast had been drifting lower recently.
At 2.8 percent, the government’s first estimate of gross domestic product over the course of July, August and September followed growth rates of 1.1 percent in the first quarter of the year and 2.5 percent in the second quarter. Read more
Categories: Americas, Economics, United States
I am not an economist but consider me as a foremost management specialist. US could have redoubled the growth in the Obama era had it not diverted US Army to Afghan primarily in the witch hunt of Osama Bin Ladin and lowered the interest rate to zero.