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Financial News: U.S. GDP Growth Unexpectedly Downwardly Revised In Q3

U.S. GDP Growth Unexpectedly Downwardly Revised In Q3

12/21/2017 - 08:46:00 (RTTNews)

(RTTNews) - Economic activity in the U.S. unexpectedly grew at a slightly slower than previously estimated rate in the third quarter, according to a report released by the Commerce Department on Thursday.

The report said real gross domestic product surged up by 3.2 percent in the third quarter compared to the previously estimated 3.3 percent jump. Economists had expected the pace of growth to be unrevised.

Despite the downward revision, the GDP growth seen in the third quarter still reflects a modest acceleration from the 3.1 percent increase in the second quarter.

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