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U.S. Growth at Above-Forecast 3% on Consumers and Businesses

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October 27, 2017
From the U.S. Chamber

Bloomberg News reports “The U.S. economy expanded at a faster pace than forecast in the third quarter, indicating resilient demand from consumers and businesses even with the hit from hurricanes Harvey and Irma, Commerce Department data showed Friday… The gain in equipment investment shows “businesses may be getting a little more confident about the expansion, both here in the U.S. and abroad,” [said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York]. Overall, the report “probably gives a little more confidence to the Fed to hike rates before year-end, but I don’t think it’s a game-changer.""