Business

Economic growth surged in third quarter to 4.9% rate despite high interest rates

By Zach Halaschak
Published October 26, 2023 12:32pm ET
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Economic growth surged in third quarter to 4.9% rate despite high interest rates
The Commerce Department will release its second of three estimates of growth for the January-March quarter as measured by the gross domestic product. (AP Photo/Alan Diaz) | Alan Diaz

Economic growth accelerated to a 4.9% seasonally adjusted annual rate in the third quarter of this year, up from 2.1% the quarter before, the Bureau of Economic Analysis reported Thursday morning.

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Federal Reserve GDP Interest Rates Mortgage Rates