US economy grew at 2.3% rate in Q3, up from earlier estimate

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON (AP) — The U.S. economy grew at a 2.3% rate in the third quarter according to a third and final estimate of the nation’s economic growth for that period.  But prospects for a solid rebound going forward are being clouded by the rapid spread of the latest variant of the coronavirus. The Commerce Department said Wednesday that the nation’s total output of goods and services, was higher than last month’s estimate of 2.1% growth in the third quarter. The new-found strength came from primarily from stronger consumer spending than previously thought and a stronger performance by businesses in rebuilding their inventories..