U.S. economy grew faster in Q3 than first thought

11/30/2012 | Los Angeles Times (tiered subscription model)

The U.S. economy expanded 2.7% in the third quarter, not 2%, as initially estimated, according to the Commerce Department. Most of the growth came from government spending, mainly for military items, and companies stockpiling inventory, the department says. Consumer spending and business investment in equipment and software were less than originally thought.

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