Economic Growth Revised Up in 3rd Quarter
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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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US economic growth picked up in the third quarter, fuelled by strong consumer spending, official figures show.
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WASHINGTON -- The economy snapped out of a sluggish spell and grew at a faster-than-expected 3.5 percent pace in the final quarter of last year as consumers ratcheted up spending despite a painful housing slump.
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The US economy grew at a strong pace of 4.0 percent in the second quarter, the government said Thursday in a revised estimate of gross domestic product for the April-June period.
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The Philippine economy rose 6.3 percent year-on-year in the third quarter, higher than the market expectations, the government said Monday.
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The U.S. economy grew at a healthy 3.7 percent annual rate in the third quarter this year, bolstered by strong consumer spending and accompanied by the lowest inflation in decades, the Commerce Department said on Friday.
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The US 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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The forecast came as the U.S. revised upward its estimate for third-quarter gross domestic product growth to a robust 3.9 percent from 3.7 percent.
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The US economy grew at an annual rate of 3.3 percent in the spring, the government reported Wednesday. That was significantly better than a previous estimate but still the weakest showing in more than a year.
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Stock futures rose slightly on Wednesday before figures on third-quarter economic growth, which could be revised higher, suggesting continued corporate profit growth.
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WASHINGTON: The US 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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The economy &#151; helped out by more brisk consumer and business spending &#151; grew at an annual rate of 3.9 percent in the third quarter, a performance that was stronger than previously thought.
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Robust consumer spending during the third quarter helped the US economy advance faster than first thought, a government report showed on Tuesday, while underlying inflation was the tamest in decades.
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The US economy increased at an annual rate of 4 percent in the third quarter of this year following a rate of 3.3 percent in the previous quarter, the Commerce Department reported on We dnesday.
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The Commerce Department Wednesday said its final report, or third reading, on gross domestic product showed the economy expanded at a revised annualized rate of 4.0%.
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The UK economy grew by 3.1% in 2004  after accelerating in the final three months of last year, according to official figures.
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The US economy's &quot;soft patch&quot; was not as weak as initial estimates, according to government data showing a 3.3 percent pace of expansion in the second quarter.