US third-quarter economic growth raised to 3.5%

WASHINGTON (Dec 22): The US economy grew faster than initially thought in the third quarter, notching its best performance in two years, amid solid consumer spending and a jump in soybean exports.

Gross domestic product increased at a 3.5% annual rate instead of the previously reported 3.2% pace, the Commerce Department said in its third GDP estimate on Thursday.

Growth was the strongest since the third quarter of 2014 and followed the second quarter's anemic 1.4% pace.

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