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Smaller figures for third quarter in US economy

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Smaller figures for third quarter in US economy

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The US economy has not expanded as much as expected. Figures show the annual growth rate for the third quarter is only 2.8 per cent, less than the 3.5 per cent predicted.

This shows American consumers are not spending as much as hoped, and the country’s trade deficit has increased. It is not all bad news – the climb in corporate profit is at its most in five years.