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US ECONOMIC GROWTH REVISED IN THE 3RD QUARTER

Aruba, December 4, 2015 - US economic growth for the third quarter has been revised up, helped by stronger investment and house building.

The Commerce Department said gross domestic product rose at an annual pace of 2.1%, not the 1.5% rate it reported last month. 
 
Consumer spending was revised down slightly, although this was offset by growth in other economic areas. Even with the GDP revision, growth still slowed from an annual pace of 3.9% in the second quarter.
 
However, in the second quarter of the year the economy was rebounding from the impact of the harsh winter weather experienced at the start of the year, which slowed the US economy to a crawl. The better third quarter growth is still likely to fuel speculation that the US Federal Reserve is ready to raise interest rates next month.
 
 

By orbitalnets.com