US economy grew at 3.2 percent in Q3WASHINGTON--The U.S. economy in the third quarter grew at the fastest pace in two years, with a revised report showing stronger consumer spending than first estimated. The gross domestic product, the country's total output of goods and services, expanded at an annual rate of 3.2 percent in the July-September period, the Commerce Department reported Tuesday. The 3.2 percent increase was expected to be the best showing for the year. Still, consumer spending, which accounts for 70 percent of economic activity, slowed from a gain of 4.3 percent in the second quarter. Other areas of strength were in export sales, which grew at a 10.1 percent rate.

Source: The China Post November 29, 2016 16:28 UTC