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US economy grows faster than thought

Discussion in 'The Americas' started by Manmohan Yadav, Dec 5, 2013.

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  1. Manmohan Yadav

    Manmohan Yadav Brigadier STAR MEMBER

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    The US economy grew at an annual pace of 3.6% in the third quarter of the year, up from an initial estimate of 2.8%, revised figures have shown.

    The growth rate was the fastest since the first quarter of 2012.

    The third-quarter performance was an improvement on the 2.5% pace seen in the previous three months.

    But the upward revision was mainly driven by a big jump in businesses restocking their inventories, the Commerce Department said.

    [​IMG]

    The annualised growth figure was equivalent to a quarter-on-quarter increase of 0.9%, revised up from 0.7%.

    The pace of growth in consumer spending - which accounts for about two-thirds of US economic activity - slowed from the previous quarter.

    Consumer spending grew at a revised annual pace of 1.4%, down from 1.8% in the April-to-June period and the slowest rate since late 2009.

    The inventory build-up consists of products that have been produced but not yet sold, such as cars.
     
  2. Averageamerican

    Averageamerican Colonel ELITE MEMBER

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    Usually if they produce products its because there is a market for them.... US stock market record highs over 16000. I bought FB (Facebook) at 29.
     
    Last edited: Dec 5, 2013
  3. layman

    layman Aurignacian STAR MEMBER

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    US economy would get back at brisk pace jus that they need to control their expenses.
     
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