The U.S. Economy Grew 3.2% in the Third Quarter

The U.S. economy grew faster than initially thought in the third quarter, notching its best performance in two years, buoyed by strong consumer spending and a surge in soybean exports.

Gross domestic product increased at a 3.2% annual rate instead of the previously reported 2.9% pace, the Commerce Department said in its second GDP estimate on Tuesday. Growth was the strongest since the third quarter of 2014 and followed the second quarter’s anemic 1.4% pace.

Growth was also lifted by...

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