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GDP Rises 2.9%, Which Is the Biggest Gain in Two Years

Economic growth was stronger than expected in the latest quarter, according to today's GDP report.

The latest figures on the health of the U.S. economy show the economic picture looks a little rosier than it did in the first half of the year.  Preliminary numbers on third quarter GDP coming in at 2.9%, that was four-tenths of a percent higher than what had been expected, and the fastest growth in two years. Last quarter's growth rate was the fastest in two years. The better than expected number largely reflected increased exports and a buildup in inventories, but consumer spending increased at a slower rate. Second quarter GDP figures were also revised slightly higher to 1.4%. This is the final look at the health of the overall economy before Americans head to the polls on November 8th.

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