Consumer, business spending support U.S. third-quarter growth

December 22, 2015 2:05 PM

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Consumer, business spending support U.S. third-quarter growth

WASHINGTON The U.S. economy grew at a fairly healthy clip in the third quarter as strong consumer and business spending offset efforts by businesses to reduce an inventory glut, underscoring its resilience despite a raft of headwinds.

Gross domestic product grew at a 2.0 percent annual pace, instead of the 2.1 percent rate reported last month, the Commerce Department said in its third estimate on Tuesday.

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