The U.S. gross domestic product rose at a 2.6% annual rate in the third quarter, higher than previous estimates, the Commerce Department said Wednesday in its final revision.
Commerce last month estimated third-quarter GDP growth at a 2.5% rate, and its first figure a month earlier was 2%. Second-quarter GDP growth was 1.7%.
The revised level was slightly below analystsâ€™ forecasts of 2.8%, Bloomberg reported.
Consumer spending, which accounts for about 70% of the economy, rose at a 2.4% rate, the fastest since the first quarter of 2007 but slightly below last monthâ€™s estimate.
Wednesdayâ€™s GDP figure is the final of three to be put out by Commerce.
Â© 2010, Transport Topics Publishing Group. All rights reserved.