US Q3 GDP up, spending less robust
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US Q3 GDP up, spending less robust

US economic growth was a touch stronger than previously estimated in the third quarter, but consumer spending was softer and more of the goods produced ended up on warehouse shelves.

business Updated: Dec 22, 2010 22:22 IST
Reuters

US economic growth was a touch stronger than previously estimated in the third quarter, but consumer spending was softer and more of the goods produced ended up on warehouse shelves.

Gross domestic product growth was revised up to an annualised rate of 2.6% from 2.5%, reflecting a higher than previously estimated pace of inventory accumulation, the Commerce Department said in its final estimate of third-quarter GDP on Wednesday.

Economists had expected GDP growth to be revised up to a 2.8% pace.

First Published: Dec 22, 2010 22:21 IST