US economy, Consumers power strongest
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The economy expanded at a 4.3% annual rate in Q3 before the government shutdown likely squelched growth in the fourth quarter.
Real GDP rose at an annualized rate of 4.3% in the third quarter, beating the 3.3% forecast and driven by strong consumer spending.
The U.S. economy grew at a faster rate than expected in the latest quarter, as some economists anticipated Americans to ramp up spending in recent months, according to delayed data released Tuesday by the Commerce Department.
The data, which was delayed from October by the government shutdown, comes as the economy takes center stage for voters and the Trump administration.
The U.S. economy grew at an annualized rate of 4.3% in the third quarter in the government's initial estimate, marking an acceleration from 3.8% growth recorded in the previous quarter.
Household spending is increasingly divided between wealthy consumers who are helping to keep the economy humming and everyone else.