The U.S. economy grew at its quickest pace in 11 years in the third quarter, the strongest sign yet that growth has decisively shifted into higher gear.
The Commerce Department on Tuesday revised up its estimate of gross domestic product growth to a 5.0 percent annual pace, citing stronger consumer and business spending than it had previously assumed.
It was the fastest growth pace since the third quarter of 2003. The economy was previously reported to have expanded at a 3.9 percent rate.
GDP growth has now been revised up by a total of 1.5 percentage points since the first estimate was published in October. Big revisions are not unusual as the government does not have full information when it makes its initial estimates.
House Democrat calls Trump's new tariffs 'an end-run around the Supreme Court and Congress', not an...
The board game Monopoly has always taught some important economic lessons: The benefits of owning real...
President Donald Trump took executive action on July 20 to impose a new 50% tariff on...
For his work chairing the US Federal Reserve, Alan Greenspan, who has died aged 100, was...
