US GDP Grows Above-Forecast 3.5% on Consumption, Inventories

From Industry Week:

The U.S. economy expanded at a 3.5% pace in the third quarter as consumers opened their wallets, businesses restocked inventories and governments boosted spending, marking the strongest back-to-back quarters of growth since 2014.

The annualized rate of gains in gross domestic product compared with the 3.3% median estimate in a Bloomberg survey and followed a 4.2% advance in the prior three months, according to Friday’s report from the Commerce Department.

To see the full Industry Week article, click here.

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