U.S. GDP Growth Surprise Propels Stocks To New Record

Published Friday, October 27, 2017 at: 7:00 AM EDT

Despite two severe hurricanes, the threat of a nuclear war, and political strife in Washington, D.C., the U.S. economy grew much faster than expected last quarter. Real gross domestic product (GDP) increased at an annual rate of 3% in the third quarter of 2017, according to the "advance" estimate released by the Bureau of Economic Analysis. A second estimate for GDP in the third quarter will be released on November 29, and the 3% figure could be revised. But 3% is much higher than the 2.7% consensus forecast of 59 economists surveyed in early October in The Wall Street...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

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