US economy expected to have grown at blistering pace in 3rd quarter
Economists expect growth to have nearly doubled from previous quarter. The U.S. economy is expected to have grown at a blistering pace over the three months ending in September, fueling optimism about the nation's outlook but complicating the fight to dial back inflation. Fresh GDP data to be released on Thursday is expected to reinforce other recent indicators of a strong economy resisting the Federal Reserve's effort to cool prices increases with a slowdown. A blockbuster jobs report earlier this month exceeded economist expect ations by nearly twofold. Consumer spending, which accounts for nearly three- quarter s of U.S. economic activity, surged in September, according to data released last week. Economists expect GDP to have grown at 4.3% annualized rate over the three-month period ending in September -- a rate nearly twice as fast as the previous quarter . U.S. GDP grew at a 2.4% annualized rate over three months ending in June, which marked an advance from the rate re...