Dec. 23 (UPI) -- A delayed report Tuesday showed U.S. economic growth surged in the third quarter, driven by robust consumer spending.
The U.S. economy grew at an annual rate of 4.3% in the third quarter, according to preliminary data from the U.S. Department of Commerce, outpacing the 3.2% increase forecast by Wall Street economists.
The department's Bureau of Economic Analysis said consumer spending grew 3.5% in the third quarter -- up from 2.5% previously -- as stronger exports and government outlays lifted overall growth.
A smaller decline in private investment also contributed to the gain.
The report, delayed by the federal government shutdown, replaced the second estimate previously slated for Nov. 26.
