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12/22/2021, 2:30 PM (Source: TeleTrader)
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US economy grows by 2.3% in Q3, tops estimates

The United States gross domestic product annually expanded by better than expected 2.3% in the third quarter of 2021 and surpassed market expectations, according to a preliminary report published by the Bureau of Economic Analysis on Wednesday.

"The increase in third-quarter GDP reflected the continued economic impact of the COVID-19 pandemic. A resurgence of COVID-19 cases resulted in new restrictions and delays in the reopening of establishments in some parts of the country," the report noted.

The data for the fourth quarter of the year will be available on January 27.

Baha Breaking News (BBN) / ND