UPDATED:
12/22/2011 11:00:00 AM
Write a Letter to the Editor
Print This
The U.S. economy rose at a slower rate than previously reported in the third quarter, growing at a 1.8% annual pace, the Commerce Department said Thursday.
The third-quarter gross domestic product growth rate was first reported at 2.5% in October, then was revised down to 2% last month.
GDP rose at a 1.3% rate in the second quarter.
Economists had forecast the rate would hold at 2% growth, which had been the fastest in a year, Bloomberg reported.
Consumer spending, which accounts for about 70% of the economy, grew at a 1.7% rate, down from a previously reported 2.3% rate.
Thursday’s third-quarter GDP figure was the third and final of three released by Commerce.
Follow Transport Topics on RSS Twitter Facebook
Print This
© 2011, Transport Topics Publishing Group. All rights reserved.
RELATED ARTICLES
Third-Quarter GDP Rate Again Revised Downward (12/22/2011 11:00:00 AM)
2011’s Surge in Freight Volume, Profits Had Trucking Outpacing U.S. Economy (12/19/2011 11:45:00 AM)
Freight Tonnage Index Rises 5.7% (11/28/2011 9:00:00 AM)
Editorial: Looking Toward 2012 (11/28/2011 8:00:00 AM)
Third-Quarter GDP Rate Revised Down to 2%, from 2.5% (11/22/2011 10:10:00 AM)
Truck Tonnage Rises 5.7% in October (11/22/2011 10:00:00 AM)
