Categories: Retirement Planning and Investing

Third-Quarter Growth in U.S. Revised Higher on Services

Roger Wollstadt, Flickr

Third-Quarter Growth in U.S. Revised Higher on Services (Bloomberg)

The U.S. economy expanded in the third quarter faster than previously estimated as consumers boosted spending on services such as health care and companies invested more in software. Gross domestic product (GDP) climbed at a 4.1 percent annualized rate, the strongest since the final three months of 2011 to beat an estimate of 3.6 percent, Commerce Department reported today. Inventories accounted for a third of the gain in GDP in the third quarter, showing companies were expecting increased demand. Stronger retail sales in October and November underscore the Federal Reserve’s view that the world’s largest economy is improving.

Paul Dykewicz

Paul Dykewicz is the editor of StockInvestor.com and the editorial director of Eagle Financial Publications in Washington, D.C. He writes and edits for the website, as well as edits investment newsletters, time-sensitive trading alerts and other reports published by Eagle. He also is an accomplished, award-winning journalist who has written for Dow Jones, USA Today and other publications, as well as served as business editor of a daily newspaper in Baltimore. In addition, Paul is the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain." He received his MBA in finance from Johns Hopkins University, where he was a two-time president of the school's Finance Club. In addition, Paul has a bachelor's degree from the University of Michigan and a master's degree in journalism from Michigan State University. Outside of work, Paul volunteers with a faith-based organization to assist the poor in Southeast Washington, D.C., to learn personal finance skills to lift themselves out of debt.