News Column

US Economy Grew 2.7 Percent in Third Quarter

November 29, 2012

The US economy grew at annual rate of 2.7 per cent in the third quarter, according to data released by the Commerce Department Thursday.

The gross domestic product (GDP) was revised upward over a previous estimate of 2 per cent released last month and represents a jump over second quarter growth - which came in at 1.3 per cent.

The Commerce Department's Bureau of Economic Analysis attributed the economic growth to, among other factors, boosts in consumer and federal government spending.

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Source: Copyright 2012 dpa Deutsche Presse-Agentur GmbH

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