by Josh Schafer
Yahoo! Finance
The US economy grew at a slightly less rapid pace than economists had expected in the third quarter.
The Bureau of Economic Analysis’s advance estimate of third quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 2.8% during the period, below the 2.9% growth expected by economists surveyed by Bloomberg. The reading came in lower than the 3% growth in the second quarter.
While slightly below expectations, several economists noted the third quarter GDP print reflected strong economic growth. Capital Economics chief North America economist Paul Ashworth noted the report shows an economy growing at a solid pace.