Third Quarter GDP Grew 5%
Washington, DC, Dec. 23, 2014 -- Third quarter economic growth was much stronger than initially estimated, according to the Commerce Department.
Growth in the gross domestic product was revised to 5%, up from the last estimate of 3.9%.
The government cited stronger consumer and business spending than it had previously estimated.
It was the fastest growth since the third quarter of 2003.
GDP expanded at a 4.6% rate in the second quarter.