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| US grows faster in third quarter | US grows faster in third quarter |
| (35 minutes later) | |
| The US economy grew at an annualised rate of 3.1% in the third quarter of this year - faster than previously thought. | The US economy grew at an annualised rate of 3.1% in the third quarter of this year - faster than previously thought. |
| In November the Commerce Department estimated that growth hit 2.7% in the three months to September, but this has now been revised up. | In November the Commerce Department estimated that growth hit 2.7% in the three months to September, but this has now been revised up. |
| But economists still predict much slower growth in the final three months of the year. | But economists still predict much slower growth in the final three months of the year. |
| Uncertainty over "fiscal cliff" talks are expected to have harmed sentiment. | Uncertainty over "fiscal cliff" talks are expected to have harmed sentiment. |
| Disruption caused by Superstorm Sandy is also likely to have hit productivity, and economists are broadly predicting a growth rate of closer to 1.5% for the final quarter. | |
| Stronger exports and higher government and consumer spending helped boost growth in the third quarter, the Commerce Department said. | |
| Spending by state and local governments rose 0.3% over the period, while consumer spending grew at an annualised rate of 1.6%. |