New York
CNN
—
America’s economy grew much faster than previously thought in the third quarter, a sign that the Federal Reserve’s battle to cool the economy as it fights against inflation is having only limited impact.
The Commerce Department’s final reading Thursday morning showed GDP up at an annual pace of 3.2% in the July to September period, above the 2.9% estimate from a month ago. Economists surveyed by Refinitiv had expected GDP to stay unchanged from its previous reading.
