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Q3 GDP revised upwards again

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Q3 GDP revised upwards again

Third estimate comes in at a 5.0% annualized growth rate.

US estimated real gross domestic product increased at an annual rate of 5.0% in the third quarter, according to a Commerce Department report issued today.  This is an upward revision from the second estimate of 3.9%, and is the fastest rate of growth in 11 years.

Analysts had expected the rate to be revised to 4.3%.

The upward revision was primarily due to increased business and consumer spending, and well as an increase in inventory replenishment.

The full report can be found here.

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