The U.S.Commerce Department said Thursday that GDP during the 3 quarter expanded at an annual rate of 3.1% and revised from last month's estimate of 2.7% growth.
The Commerce Department sees "no great change" at the stable growth of "the general picture of the economy for the third quarter."
The economy growth is faster than previously estimated in the 3 quarter, but the improvements can be srt back by fiscal cliff worries and negative results of hurricane Sandy. Analysts also reming that expansion in the 3 quarter came from private inventory investment and federal government spending, which jumped 9.5% not forgetting about deep spending cuts next year. More over, import continues the decline. And consumer spending showed only a modest pick up to 1.6% from 1.4% prior.