US economy Q3 growth surge
November 25, 2014
The US Commerce Department announced Tuesday that the country's economy grew at a solid 3.9 percent annually in the third quarter. That was faster than an initial estimate of 3.5 percent, the upgrade coming from greater spending by consumers and businesses. The announcement caught analysts by surprise - they had been expecting a downgrade to 3.2 percent.
Sustained acceleration
Tuesday's figure followed a 4.6 percent surge in the spring quarter, and highlights the biggest consecutive quarters of growth since 2003. However, analysts are still saying that growth could fall back to about 2.5 percent in this quarter before picking up again in 2015.
They expect growth of around 3 percent, representing a sustained acceleration in activity six years after the financial crash and resulting Great Recession.
bew/uhe (AP/AFPE)