The U.S. economy has shown a third-quarter annualized growth of 3.5 percent this year.

However, this reflects a change in the momentum shown earlier when the rate was trending at a second-quarter pace of 4.2 percent.

That said, the economy bettered the 3.3 percent expansion projected by economists.

The U.S. Commerce Department highlighted the fact that strong consumer and government spending helped boost economic performance.

The department also said lower exports weighed on growth after a surge earlier in the year as firms rushed shipments to beat tariffs.

Readers Bureau, Contributor

Edited by Jesus Chan

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