This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-30585541

The article has changed 4 times. There is an RSS feed of changes available.

Version 0 Version 1
US economy growing at quickest pace for 11 years US economy growing at quickest pace for 11 years
(35 minutes later)
The US economy grew at an annual rate of 5% in the third quarter, its fastest pace for 11 years, official figures suggest.The US economy grew at an annual rate of 5% in the third quarter, its fastest pace for 11 years, official figures suggest.
The US Commerce Department said GDP rose faster than the previous estimate of 3.9% for the July-to-September period, boosted by stronger consumer and business spending.The US Commerce Department said GDP rose faster than the previous estimate of 3.9% for the July-to-September period, boosted by stronger consumer and business spending.
This was the fastest rate of growth since the third quarter of 2003.This was the fastest rate of growth since the third quarter of 2003.
The strong figure builds on the second-quarter growth rate of 4.6%.The strong figure builds on the second-quarter growth rate of 4.6%.
Much of the third quarter growth came from consumer spending, which accounts for around two-thirds of US economic activity. Consumer spending grew at an annual pace of 3.2%, the fastest since the fourth quarter of 2013.
Growth in business investment was raised to a rate of 8.9% pace from an earlier estimate of 7.1%. There was a stronger pace of spending than previously thought on equipment, intellectual property products and non-residential structures.
After two strong quarters for the US economy, economists predict that growth will slow to an annual rate of around 2.5% in the current October-December quarter.
But they predict growth of about 3% in 2015, which would be the fastest pace since 2005.