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Economy in U.S. Expands 3.9%, More Than Previously Forecast

Bloomberg (11/25/14) Victoria Stilwell

U.S. gross domestic product increased at a 3.9% annualized rate during the third quarter, up from initial estimates of 3.5%, according to the U.S. Department of Commerce. It was the biggest back-to-back increase since late 2003, following a 4.6% jump in the second quarter. The 81 economists surveyed by Bloomberg predicted a median gain of 3.3%. Their estimates ranged from 2.8% to 3.8%. Consumer spending was strong.