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.

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.

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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.