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Fresh Growth Numbers Are Set to Show US Remains Economic Powerhouse
The world’s largest economy probably expanded at the quickest pace in nearly two years during the third quarter on the back of a steadfast US consumer, a challenge for Federal Reserve officials who are debating whether additional policy tightening is needed. Gross domestic product advanced at a 4.3% annualized pace in July-September, according to the median projection in a Bloomberg survey of economists. Such growth illustrates that the US remains the global economic powerhouse as Europe stagnates and Asia contends with a struggling China. Personal consumption, the primary engine of the US economy, is projected to ... (full story)