US economy grew at 2.7 per cent rate in summer

The US economy grew at a 2.7 per cent annual rate from July through September, much faster than first thought. The strength may fade in the final months of the year if Congress and the Obama administration fail to reach a budget deal.

The Commerce Department said Thursday that growth in the third quarter was significantly better than the 2 per cent rate estimated a month ago. And it was more than twice the 1.3 per cent rate reported for the April-June quarter.

via Business feed http://www.scmp.com/business/economy/article/1094172/us-economy-grew-27-cent-rate-summer