Thursday October 29, 12:55 PM
US economy grew 3.5% in third quarter
WASHINGTON (AFP) - The US economy grew 3.5 percent in the third quarter, rebounding from a year of contraction, the government said Thursday as the country emerged from prolonged recession.
The annualized growth reported by the Commerce Department was the strongest expansion since the 2007 third quarter, when a US subprime mortgage crisis triggered a global financial crisis that hammered the world economy.
The third-quarter reading on gross domestic product (GDP), the broadest measure of the output of goods and services in the world's largest economy, topped the 3.2 percent rate expected by most analysts.
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
