U.S. GDP grows above-forecast 3.5% on consumption, inventories

THE UNITED STATES gross domestic product grew at a 3.5 percent annual rate in the third quarter. / BLOOMBERG NEWS FILE PHOTO/LUKE SHARRETT
THE UNITED STATES gross domestic product grew at a 3.5 percent annual rate in the third quarter. / BLOOMBERG NEWS FILE PHOTO/LUKE SHARRETT
NEW YORK -The United States economy expanded at a 3.5 percent pace in the third quarter as consumers opened their wallets, businesses restocked inventories and governments boosted spending, marking the strongest back-to-back quarters of growth since 2014. The annualized rate of gains in gross domestic product compared with the 3.3 percent median estimate in a Bloomberg…
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