Economy Grows Faster Than Thought in 3Q
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The economy revved up its engine in the third quarter and advanced at an annual rate of 4 percent_ even faster than previously thought.
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The economy headed into the end of the year with good momentum, expanding at an annual rate of 4 percent in the third quarter, a faster clip than previously thought.
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The US economy grew faster than expected in the last quarter of 2006, lifted by consumer spending.
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Robust consumer spending on cars, furniture and food helped the US economy advance faster than first thought in the third quarter, a government report showed, while underlying inflation was the tamest in decades.
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The US economy picked up speed in the third quarter to expand at a 3.7 percent annual rate, the government reported Friday in the last significant look at the economy before Election Day on Tuesday.
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Japan grew at an annual pace of 3.3% in the first quarter of 2007, figures show, higher than previous estimates.
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The U.S. economy grew at a slightly stronger rate than thought in the third quarter because imports were not as hefty as first estimated, the Commerce Department said on Wednesday, though corporate profits weakened.
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Robust consumer spending on cars, furniture and food helped the U.S. economy advance faster than first thought in the third quarter, a government report showed, while underlying inflation was the tamest in decades.
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Productivity grew at a slightly faster-than-expected annualized pace in the 2nd quarter, the highest since the 3rd quarter of 2005, government data showed.
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The latest snapshot shows an economy that has returned to a moderate economic expansion of about 3 percent. At this pace, the economy is not growing fast enough to create large numbers of jobs
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The economy grew at its strongest pace in more than a year during the spring as solid improvements in international trade and business investment helped offset weakness in housing.
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The US economy was stronger than first thought in the three months to 30 September, revised figures show.
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Britain's economy is growing faster than earlier forecasts, Treasury chief Gordon Brown said Wednesday in advance of an annual address to Parliament.
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The economy expanded faster than expected in the last quarter of 2006 and remains strong.
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The British economy grew at a faster than expected annual rate during the second quarter of 2007, official data showed on Wednesday.
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The economy grew at its strongest pace in more than a year during the spring as international trade and business investment helped offset weakness in housing, the government said.
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WASHINGTON, Oct 29  - The US economy grew at a 3.7 percent annual pace in the third quarter, the government said Friday, unleashing a last-gasp scrap in the lock-tight, four-day race to the White House.