The U.S. economy grew at its quickest pace in 11 years in the third quarter, the strongest sign yet that growth has decisively shifted into higher gear.
The Commerce Department on Tuesday revised up its estimate of gross domestic product growth to a 5.0 percent annual pace, citing stronger consumer and business spending than it had previously assumed.
It was the fastest growth pace since the third quarter of 2003. The economy was previously reported to have expanded at a 3.9 percent rate.
GDP growth has now been revised up by a total of 1.5 percentage points since the first estimate was published in October. Big revisions are not unusual as the government does not have full information when it makes its initial estimates.
Donald Trump made a surprise announcement doubling tariffs on imported steel and aluminum from 25% to...
Procter & Gamble will cut up to 7,000 jobs, or approximately 6% of its global workforce,...
