Inventories boost U.S. third-quarter GDP

November 24, 2015 2:19 PM

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Inventories boost U.S. third-quarter GDP

WASHINGTON The U.S. economy grew at a healthier clip in the third quarter than initially thought, but strong inventory accumulation by businesses could temper expectations of an acceleration in growth in the final three months of the year.

The Commerce Department on Tuesday said the nation's gross domestic product grew at a 2.1 percent annual pace, not the 1.5 percent rate it reported last month. It said efforts by businesses to reduce an inventory bloat had not been as aggressive as previously believed.

Also read: U.S. economy creates 178,000 jobs in November; jobless rate drops to 4.6%

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