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Q3 GDP revised upwards

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Q3 GDP revised upwards

Second estimate comes in at a 3.9% annualized growth rate.

US estimated real gross domestic product increased at an annual rate of 3.9% in the third quarter, according to a Commerce Department report issued today.  This is an upward revision from the first estimate of 3.5%.

Analysts had expected the rate to be revised downward to 3.3%.

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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