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US Economy Expanded Faster Than Expected in 3rd Quarter

The U.S. Department of Commerce reported Tuesday the economy grew significantly faster than expected between July and September, due primarily to strong consumer spending. The gross domestic product or GDP, the total output of all goods and services in the U.S., expanded at an annual rate of 3.2 percent, its fastest pace in two years. The figure was much better than the 2.9 percent growth rate economists had estimated, but stronger-than-expected spending on items like automobiles and...

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