US economy grew at brisk 3.5 pct. annual rate last quarter

WASHINGTON (AP) — The U.S. economy expanded at a solid 3.5 percent annual rate in the July-September quarter, led by lower but still strong consumer spending and more business investment than previously estimated. The Commerce Department’s figure for gross domestic product, released Wednesday, was the same as its first estimate last month. GDP is the broadest measure of the nation’s output of goods and services and covers everything from homebuilding to haircuts. Greater corporate investment offset downward revisions in spending by state and local governments and consumers.

Origen: US economy grew at brisk 3.5 pct. annual rate last quarter

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