The U.S. economy grew much faster than expected in the third quarter

New York
CNN
—

The US economy grew much faster than expected in the third quarter, a sign that the Federal Reserve’s battle to cool the economy as it battles inflation is having only limited impact.

The Commerce Department’s final reading on Thursday morning showed GDP grew at an annual rate of 3.2% in the July-September period, above the 2.9% estimate a year ago. a month. Economists polled by Refinitiv expected GDP to remain unchanged from its previous reading.