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U.S. Economy Grew Faster Than Previously Estimated In Q3

With consumer spending and non-residential fixed investment rising more than estimated just two weeks ago, the Commerce Department released a report on Friday showing an unexpected upward revision to the pace of U.S. economic growth in the third quarter of 2013.

The Commerce Department said gross domestic product increased by 4.1 percent in the third quarter compared to the 3.6 percent growth estimated earlier this month. Economists had expected the pace of GDP growth to be unrevised.

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