Economics

US economy grows by decade record 5%

24 december 2014 | 11:30

A dramatic GDP increase has been recorded between the July and September in the United States. 

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The world's largest economy shows a record growth.
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The US economy has demonstrated a decade record growth in the third quarter of 2014, adding 5 % to its GDP. This has exceeded the initial expectations.

The Department of Commerce has improved an estimate of the US GDP growth in July-September from 3.9% to 5.0%.

Experts at the Commerce Department constantly make adjustments to the GDP estimates based on new available data.

In this case, the increase has been caused by a consumer spending and business investment growth.

In 2013, the US GDP was $ 16.8 trillion.

On 19, December it became known that the EU summit had decided to create an "economic NATO" with the US.

Source: ZN.UA

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