US economy grows 5.2% in third quarter
(VOVWORLD) - The US economy grew 5.2% in the third quarter, faster than initially thought, as businesses built more warehouses and accumulated machinery equipment.
 Reuters Graphics |
It was the fastest pace of expansion since the fourth quarter of 2021.
The report from the Commerce Department on Wednesday indicated the economy continued to grow despite fears of a recession that have persisted since late 2022.
Economists polled by Reuters had expected GDP growth would be revised up to a 5% rate. The economy grew at a 2.1% pace in the April-June quarter and is expanding at a pace well above what Federal Reserve officials regard as the non-inflationary growth rate of around 1.8%.