The Gross Domestic Product (GDP) grew by 2.5% in the third quarter. This is the fastest pace in over a year. GDP grew by just 1.3% in the 2nd quarter. This is according to an advance estimate released by the Bureau of Economic Analysis.
The economy is probably not a strong as the 2.5% suggest. Barrons reports that Americans appear to be dipping into savings to pay for purchases. Income is also trending lower.
