Gross domestic product increased 33.1% during the three months through September, unrevised from the first estimate and in-line with the expectations of analysts surveyed by Refintiiv.
The initial estimate released last month showed record growth as the U.S. economy battled back from its COVID-19-induced slowdown. The U.S. economy, the world's largest, contracted at a 32.9% annualized pace in the second quarter as lockdowns aimed at slowing the spread of the virus caused activity to grind to a halt.
The second estimate included upward revisions to nonresidential fixed investment, residential investment and exports. Those were offset by downward revisions to state and local government spending, private inventory investment and personal consumption expenditures. Imports, which reduce GDP, were revised higher.
A third estimate will be released on Dec. 22.
Google threatens to withdraw search engine from Australia; Australia might be the first fake-free internet!
The tech giant says it will remove its main search function from Australia if it passes a new law that force them to pay for the products they are stealing and selling.