US economy grows 3pc in Q3

Published: October 27, 2017 18:55:16 | Updated: October 30, 2017 00:48:55


Photo: Reuters

The US economy grew at a solid annual rate of 3 per cent in the third quarter.

It marks the first time in three years that growth has hit at least 3 per cent for two consecutive quarters.

The Commerce Department says the July-September advance in the gross domestic product, the country's total output of goods and services, followed a 3.1 per cent rise in the second quarter, reports usnews.com quoting AP.

It was the strongest two-quarter showing since back-to-back gains of 4.6 per cent and 5.2 per cent in the second and third quarters of 2014.

The economy accelerated this summer, helped by strong business investment, despite the impact of hurricanes Harvey and Irma.

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