BUSINESS

The U.S. Economy Boasts Strong Growth

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The U.S. economy has shown an annual growth of three percent during the three months to the end of September, thus beating expectation.

The growth extended the robust activity reported in the previous quarter when U.S. GDP grew at an annual pace of 3.1 percent.

Analysts anticipated a serious setback in performance after a series of hurricanes took its toll on several states in the quarter.

Consumer spending held steady despite a drop in homebuilding investment.

The Commerce Department said together the two quarters mark the strongest six months of economic activity for the U.S. since 2014.

Readers Bureau

Edited by Jesus Chan

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