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The U.S. economy expanded in the third quarter faster than previously estimated as consumers boosted spending on services such as health care and companies invested more in software.

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Third-Quarter Growth in U.S. Revised Higher on Services

The U.S. economy expanded in the third quarter faster than previously estimated as consumers boosted spending on services such as health care and companies invested more in software.

Third-Quarter Growth in U.S. Revised Higher on Services (Bloomberg)

The U.S. economy expanded in the third quarter faster than previously estimated as consumers boosted spending on services such as health care and companies invested more in software. Gross domestic product (GDP) climbed at a 4.1 percent annualized rate, the strongest since the final three months of 2011 to beat an estimate of 3.6 percent, Commerce Department reported today. Inventories accounted for a third of the gain in GDP in the third quarter, showing companies were expecting increased demand. Stronger retail sales in October and November underscore the Federal Reserveâ??s view that the worldâ??s largest economy is improving.

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Written By

Paul Dykewicz is the editorial director of the Financial Publications Group at Eagle Publishing Inc., www.eaglepub.com, of Washington, D.C. Eagle publishes five free, e-letters, 10 weekly trading services and five monthly investment newsletters, Forecasts & Strategies, Successful Investing, Cash Machine, Growth & Dividend Report and The Alpha Investor Letter. He also is the editor of Eagle Daily Investor and the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain."

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archive

Third-Quarter Growth in U.S. Revised Higher on Services

Third-Quarter Growth in U.S. Revised Higher on Services (Bloomberg)

The U.S. economy expanded in the third quarter faster than previously estimated as consumers boosted spending on services such as health care and companies invested more in software. Gross domestic product (GDP) climbed at a 4.1 percent annualized rate, the strongest since the final three months of 2011 to beat an estimate of 3.6 percent, Commerce Department reported today. Inventories accounted for a third of the gain in GDP in the third quarter, showing companies were expecting increased demand. Stronger retail sales in October and November underscore the Federal Reserve’s view that the world’s largest economy is improving.

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Sign up to the Human Events newsletter

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