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Third-Quarter U.S. Growth Was Stronger Than Previously Thought
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Third-quarter U.S. growth was stronger than previously estimated and demand for workers remained elevated in October, signs a tight labor market and resilient consumer demand are propping up an economy struggling with persistently high inflation.
Gross domestic product increased at an annual rate of 2.9% from July to September, up from an initial estimate of 2.6%, the Commerce Department said Wednesday. Larger consumer spending and business investment estimates were behind the growth revision.
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