The US economy grew faster than initially thought in the third quarter, with the strong momentum likely to further bolster the Federal Reserve’s case for an interest rate hike next month.
Gross domestic product expanded at a 2.1 per cent annual pace, up from the 1.5 per cent rate reported last month, the Commerce Department said on Tuesday in its second GDP estimate for the June-September period.
The GDP report comes as the Fed signalled that it will consider raising rates at its next meeting in December.
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