The US Economy Is On Solid Footing
The US economy is standing strong, with increased real estate investment helping to drive up Q3 GDP.
The Commerce Department said the economy grew at a 3.5% annual rate in Q3, up from the previously reported 3.2%, to mark the strongest growth since Q3 2014, Reuters reports. Increased business investment helped drive the upward adjustment, with more firms pouring money into real estate and intellectual property products than previously realized.
Consumer spending, the behemoth that makes up over two-thirds of US economic activity, also grew 0.2% in November, according to the Commerce Department. [Reuters]