An initial reading of third-quarter gross domestic product showed the US economy expanded at an inflation-adjusted annualized rate of 4.3%, a far faster pace than the 3.8% recorded in the second quarter, according to Commerce Department data released Tuesday.
An acceleration in consumer spending, up 3.5% from 2.5% in the second quarter, and exports, up 8.8% from -1.8% in the second quarter, were the main contributors to the third-quarter GDP reading.
Stock futures were little changed after the data release. Dow futures were down 40 points. S&P 500 futures fell 0.06% and Nasdaq 100 futures ticked down by 0.08%.
This is a developing story and will be updated.
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