US Economic Growth Hits 3 Percent, Despite Two Hurricanes

Growth would have been around 3.5 percent, excluding the weather impact, says Citigroup

President Donald Trump talks to the press before leaving the White House from the South Lawn in Marine One on Oct. 25, 2017. Samira Bouaou/The Epoch Times

The U.S. economy grew at a higher rate than expected in the third quarter, buoyed by strong inventory investment, consumer spending, and a lower trade deficit.

Real gross domestic product (GDP) surged by 3 percent in the third quarter, according to the “advance” estimate released by the Bureau of Economic Analysis (BEA). This is slightly lower than the 3.1 percent increase in the second quarter.