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U.S. Third-Quarter GDP Expands at 3.5% Rate

Wall Street Journal (10/30/14) Nick Timiraos; Eric Morath

The U.S. economy expanded during the third quarter, despite increasing concerns about the health of foreign economies. Gross domestic product grew at a seasonally adjusted annual rate of 3.5%, according to the U.S. Department of Commerce. Economists polled by the Wall Street Journal had forecast growth at a 3.1% rate. Earlier in the year, growth was uneven. The economy grew at a 4.6% annual rate in the second quarter after it contracted at a 2.1% rate in the first quarter.