The Traderszone Network

Published in TZ Latest News 24 November, 2015 by The TZ Newswire Staff

U.S. GDP growth raised for third quarter

    The Commerce Department on Tuesday said the nation’s gross domestic product grew at a 2.1 percent annual pace, not the 1.5 percent rate it reported last month, as businesses reduced an inventory bloat less aggressively than previously believed. The pace of economic growth, which was also boosted by upward revisions to business spending on equipment, suggests a resilience that could help give the Federal Reserve confidence to raise interest rates next month. While consumer spending was revised down a bit, its pace remained brisk, suggesting consumers were cash-flush.