US growth revised up sharply in third quarter to 3.2%

Washington (AFP) – The world’s largest economy grew even faster than initially thought in the third quarter, based in large part on a jump in goods and services spending, the US Commerce Department said Tuesday.

According to a revised GDP report, the economy grew at an annual rate of 3.2 percent, three-tenths higher than the initial estimate published last month, which was already the fastest rate in two years. 

A consensus analyst forecast had called for a more modest upward revision to 3.0 percent.