This article exists as part of the online archive for HuffPost Canada, which closed in 2021.

US economy grew at 2 pct. annual rate in third quarter, slightly less than previous estimate

WASHINGTON — The U.S. economy grew at a slightly slower pace over the summer than the government had previously estimated. Most economists foresee a slight acceleration in the current quarter and stronger growth in the first half of 2016.

The Commerce Department says the economy, as measured by the gross domestic product, expanded at a 2 per cent annual rate in the July-September quarter. That was a bit lower than its previous estimate of 2.1 per cent, a result of less restocking by businesses than previously estimated.

Last quarter's expansion was significantly below the 3.9 per cent annual GDP growth in the second quarter. The slowdown reflected a cutback in the pace of inventory restocking. Economists think growth in the final quarter will amount to around a 2.2 per cent rate, helped by solid consumer spending.

Martin Crutsinger, The Associated Press

Suggest a correction
This article exists as part of the online archive for HuffPost Canada. Certain site features have been disabled. If you have questions or concerns, please check our FAQ or contact support@huffpost.com.