U.S. GDP Growth Surprise Propels Stocks To New Record
Published Friday, October 27, 2017 at: 7:00 AM EDT
Despite two severe hurricanes, the threat of a nuclear war, and political strife in Washington, D.C., the U.S. economy grew much faster than expected last quarter.
Real gross domestic product (GDP) increased at an annual rate of 3% in the third quarter of 2017, according to the "advance" estimate released by the Bureau of Economic Analysis. A second estimate for GDP in the third quarter will be released on November 29, and the 3% figure could be revised. But 3% is much higher than the 2.7% consensus forecast of 59 economists surveyed in early October in The Wall Street Journal.
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