- The Washington Times - Wednesday, November 29, 2017

The U.S. economy grew even faster than initially estimated in the third quarter, with gross domestic product rising 3.3 percent, the Commerce Department reported Wednesday.

The strongest pace of growth in three years topped President Trump’s prediction of sustained growth of 3 percent as he pushes for a key Senate vote on tax cuts.

Mr. Trump took to Twitter Wednesday morning to tout the nation’s economic gains.

“Looks like another great day for the Stock Market. Consumer Confidence is at Record High. I guess somebody likes me (my policies)!” the president tweeted.

Increases in business investment in inventories and equipment in the third quarter offset a moderation in consumer spending, the government said.

The pace of growth in the second quarter was 3.1 percent.

Previously, economists thought GDP increased at a 3.0 percent pace in the July-September period. It was the first time since 2014 that the economy experienced growth of 3 percent or more for two straight quarters.

This article is based in part on wire service reports.


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