The US economy grew faster than initially expected in the third quarter, revised GDP estimates from the Bureau of Labor Statistics show
The economy expanded by 2.1% between July and September, more than the initial reading of 1.9%, and more than the 2% growth rate in the second quarter.The economy last grew at a pace of less than 2% in the final quarter of 2018."We can be thankful that the economy is still in a good place with economic growth a little better," said Chris Rupkey, chief financial economist at MUFG.
Together this tells"the story that recession is nowhere to be seen and should not be on anyone's radar in 2020," Rupkey added.Read MoreCapital Economics lifted its GDP growth forecast for the fourth quarter to 1.5%, from 1% before.
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