U.S. third-quarter economic growth rate revised upward to 2.3% from 2.1%
The numbers: The U.S. economy expanded at an annual 2.3% pace in the third quarter, up from the prior estimate of 2.1%, according to updated data released by the Commerce Department Wednesday. Economists polled by The Wall Street Journal had forecast that third-quarter gross domestic product would remain unrevised.
Key details: Consumer spending was revised to a gain of 2.3% annual rate in the second quarter from the prior estimate of 2.1%. That was the slowest since the depths of the pandemic in the same quarter of 2020.
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