Third Quarter Economic Growth Revised Lower

Washington, DC, Nov. 22, 2011 -- The economy in the third quarter grew at a slightly slower pace than previously estimated, according to the Commerce Department.

However, weak inventory accumulation and strong consumer spending reinforced views that output would pick up in the fourth quarter.

Gross domestic product grew at a 2.0 percent annual rate in the third quarter, the Commerce Department said in its second estimate on Tuesday, down from the previously estimated 2.5 percent.