The U.S. economy grew at its strongest pace in two years in the third quarter, according to government data released Friday morning. Is this just a coincidence that the timing of this comes days before the election? Between the months of July and September, the nation’s gross domestic product expanded at an annualized rate of 2.9 percent. The reading surpassed expectations of economists surveyed by Bloomberg, who had forecast growth of 2.6 percent.
The reading showed the nation’s economy bouncing back following months of sluggish economic growth. Economic growth has been below 1.5 percent for the previous three-quarters. The data, released by the Commerce Department, showed that the rebound was driven by exports and business making new purchases to rebuild their inventories. Consumer spending, which has driven growth this year, moderated somewhat. FULL REPORT