U.S. economy reports strongest quarter growth in years
The U.S. economy grew at a solid 3.9 percent annual rate in the July-September period, even faster than first reported, giving the country its strongest six months of growth in more than a decade. The third quarter growth rate climbed from an estimate of 3.5 percent because of greater spending by consumers and businesses, the Commerce Department reported Tuesday. The figure followed a 4.6 percent surge in the spring, which resulted in the biggest consecutive quarters of growth since 2003. Analysts believe momentum could slow to around 2.5 percent in the current quarter but then accelerate again in 2015. They expect growth of around 3 percent, representing a sustained acceleration in activity six years after the Great Recession.