The US economy has grown much faster than first thought, the Commerce Department says. Estimated was a rate of 2 percent in the third quarter, but the actual growth rate announced today was 2.5 percent.
A few weeks ago, the US Federal Reserve tried to boost the economy with $600bn. In the end, US shoppers provided for the upgrade, spending more money on cars and "big ticket" items.
"It´s better than expected. A little bit more momentum in sales. There was more business spending on software, that was one of the surprises, and consumer spending was better than expected," chief US economist Nigel Gualt explained.