US economy grows faster than thought

Chrysler production line in US US economic growth was lifted by increased stockpiles of cars and other goods

Related Stories

The US economy grew at an annual pace of 3.6% in the third quarter of the year, up from an initial estimate of 2.8%, revised figures have shown.

The growth rate was the fastest since the first quarter of 2012.

The third-quarter performance was an improvement on the 2.5% pace seen in the previous three months.

But the upward revision was mainly driven by a big jump in businesses restocking their inventories, the Commerce Department said.

The annualised growth figure was equivalent to a quarter-on-quarter increase of 0.9%, revised up from 0.7%.

The pace of growth in consumer spending - which accounts for about two-thirds of US economic activity - slowed from the previous quarter.

Consumer spending grew at a revised annual pace of 1.4%, down from 1.8% in the April-to-June period and the slowest rate since late 2009.

The inventory build-up consists of products that have been produced but not yet sold, such as cars.

More on This Story

Related Stories

More Business stories

RSS

Features

  • Burning roubleWho pays?

    The knock-on effects of Russia's economic troubles


  • Save our library signCouncil cuts

    How is your local authority affected?


  • A Pakistani army soldier looks at a plaque listing the best sports students at the site of the militants' attack on the army-run school in Peshawar on 18 December 2014Watershed hope

    Has the real war on terror finally started in Pakistan?


  • Mary TuckerChristmas workers

    Those who plan to spend the day working rather than celebrating


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.