WKYT | Lexington, Kentucky | News

Economic growth slightly faster than first thought

WASHINGTON (AP) - The economy grew slightly faster last summer than first thought, benefiting from stronger spending by U.S. shoppers and improved overseas sales of U.S. goods.

The Commerce Department reports that gross domestic product increased at a 2.5 percent annual rate in the July-September quarter. That was better than the 2 percent pace initially estimated last month.

More brisk spending by American consumers, especially on autos and other big-ticket goods, and stronger sales of U.S. exports to foreign customers were the main reasons for the upgrade.

Still, the modest improvement isn't enough to drive down the 9.6 percent unemployment rate.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus


2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Register for Email
RSS Feeds
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 110127874 - wkyt.com/a?a=110127874
Gray Television, Inc.