Q3 economy grew at 3.6% rate, beating estimates
The U.S. economy grew at a 3.6% annual in the third quarter, faster than first reported, as companies built up inventories even faster than the government had estimated last month.
The results handily beat the consensus estimate of 3.1%, as reported by Econoday. But the revision to estimates of final demand -- the value of goods and services people actually use now -- fell slightly, to a 1.9% annual rate from 2.0% in the first estimate.
The inventory restocking added 1.68% to the third-quarter growth rate, the Commerce Department said.
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