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Revised data released by the Commerce Department on Wednesday showed the U.S. economy grew faster than previously estimated in the third quarter of 2023.
The Commerce Department said the jump by real gross domestic product in the third quarter was upwardly revised to 5.2 percent from the previously reported 4.9 percent. Economists had expected the pace of growth to be upwardly revised to 5.0 percent.
The faster than previously estimated growth reflected upward revisions to non-residential fixed investment and state and local government spending that were partly offset by a downward revision to consumer spending.
