America’s economy expanded at an annualized pace of 2.3 percent in the third quarter, up 0.2 percent from earlier preliminary estimates and beating economists’ expectations, according to revised data from the Commerce Department.
The updated economic growth figures, released Dec. 22, show that the U.S. economy grew faster in the third quarter than the Commerce Department’s prior “advance” projection of 2.1 percent, largely on the back of an upward revision to personal spending and private inventory investment.
