Arab Today, arab today us economy grew at robust 41 pace
Last Updated : GMT 00:53:42
Arab Today, arab today
Arab Today, arab today

US economy grew at robust 4.1% pace

Arab Today, arab today

Arab Today, arab today US economy grew at robust 4.1% pace

Washington - AFP

The US economy grew at a robust 4.1 percent annual rate in the third quarter, much faster than previously estimated, the Commerce Department said Friday. It was the strongest growth in the world's largest economy since the fourth quarter of 2011, when the pace hit 4.9 percent. The upward third-quarter revision was largely due to consumer spending that was much stronger than previously estimated, the department said. The department's third and final estimate of gross domestic product growth was sharply higher than the previously estimated 3.6 percent, as well as the 2.8 percent initially estimated. The GDP revision surprised analysts who on average expected the 3.6 percent figure would be unchanged. In the second quarter, GDP increased at a 2.5 percent rate. Consumer spending, which accounts for about two-thirds of activity in the world's largest economy, rose 2.0 percent in the July-September period, instead of the 1.4 percent increase previously estimated. Spending on services, the bulk of the US economy, rose 0.7 percent, with improved gains notably seen in health care and recreation services. The prior estimate was zero growth. Inventory growth accounted for about 40 percent of the growth in the third quarter, compared with about 15 percent in the second quarter. "Not only was third-quarter GDP above 4.0 percent for only the third time since the expansion began in 2009, the mix of growth looks better (though still not great) than a month ago after the first revision," said Chris Low and Jay Morelock of FTN Financial in a research note. "Preconditions are in place for much stronger economic expansion in 2014," said Scott Hoyt of Moody's Analytics. Hoyt highlighted that forward-looking indicators are mixed, with rapid inventory accumulation a drag, but expectations for faster consumer spending and continued advances in residential investment still positives. "Consumer spending is increasing at about the same pace as overall GDP," he said. The GDP report came two days after the Federal Reserve scaled back its asset-purchase program, known as quantitative easing (QE), after determining that the US economy was improving sufficiently to withstand a smaller stimulus. The Fed will reduce monthly bond purchases in January by $10 billion, to $75 billion. "The strong Q3 growth performance vindicates the Fed's decision to begin tapering QE3," said Sal Guatieri of BMO Capital Markets Economics. "It also suggests the economy is poised for stronger growth in the new year than the middling 2.0 percent pace of the past year, meaning the tapering process will continue."

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us economy grew at robust 41 pace Arab Today, arab today us economy grew at robust 41 pace

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday