WASHINGTON: Robust business and consumer spending powered the US economy ahead in the third quarter at an even brisker clip than first thought, according to government data that also showed the biggest jump in corporate profits in more than a decade.
US gross domestic product (GDP) shot up at an 8.2% annual rate in the third quarter, more than double the second quarter's 3.3% gain and the strongest quarterly advance in 19-1/2 years.
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