The U.S. economy is showing signs of life after years of painfully slow growth. The Wall Street Journal reports:
U.S. economic growth last quarter was stronger than initially thought and corporate profits rose, signs of continued health in the world’s largest economy.
Gross domestic product, a broad measure of the goods and services produced across the economy, expanded at an inflation- and seasonally adjusted annual rate of 3.2% in the third quarter, the strongest growth in two years, the Commerce Department said Tuesday.
Economists surveyed by The Wall Street Journal expected growth would be revised up to a 3.0% pace from last month’s initial estimate of 2.9%. Growth accelerated from the second quarter’s more modest 1.4% pace.