U.S. Economy Keeps Pace With 3.5% Expansion In Third Quarter, BEA Says

The U.S. economy expanded by another 3.5% in the third quarter and generated more than $20 trillion in economic activity as tax cut-fueled corporate profits jumped to their highest level in six years, according to the “second” GDP estimate released Wednesday (Nov. 28) by the Bureau of Economic Analysis (BEA).

Based on more complete economic data, real U.S. gross domestic product (GDP) stayed even with the BEA’s first or “advance” estimate released a month ago. The nation’s chief economic research group, which is housed in the U.S. Department of Commerce, revises GDP data two times after the first release as more data become available.    MORE

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