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US Economy Grows at 2.1 Percent Rate in 3rd Quarter
- Article from:
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Xinhua English Newswire
- Article date:
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December 20, 1996
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Copyright informationCopyright 1996 Xinhua English Newswire. Provided by ProQuest LLC. (Hide copyright information)
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The U.S. economy grew at an annual rate of 2.1 percent in the
third quarter, the U.S. Commerce Department said today in its final
report on the gross domestic products (GDP) in the quarter.
The growth rate was a sharp slowdown from the 4.7 percent rate in
the second quarter but a tiny 0.1 percentage upward increase from a
2.0 percent estimate reported a month ago.
The Commerce Department said that a slightly larger increase in
business inventories contributed to the upward revision.
The report said that the GDP, the total output of goods and
services in the U.S., reached an annual rate of 6.93 trillion
dollars
in the third quarter after adjusting for inflation.
The slowdown of the U.S. ...
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