PoliBlog

GDP Figure Revised Updward

Remarkable: U.S. GDP Grows at 8.2 Percent Pace in 3Q

The economy roared ahead at an astounding 8.2 percent annual rate in the third quarter, the fastest pace in nearly two decades and a much stronger performance than previously thought. It raises hope that a long spell of lackluster business activity is finally over.

The revised gross domestic product, released by the Commerce Department Tuesday, was a full percentage point higher than the 7.2 percent growth rate estimated a month ago.