Economy

GDP exceeds expectations, grows 3 percent in third quarter

By Sean Higgins
Published October 27, 2017 1:19pm ET
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GDP exceeds expectations, grows 3 percent in third quarter
On Friday, the Commerce Department issues the first of three estimates of how the U.S. economy performed in the July-September quarter. (AP Photo/Mark Humphrey) | Mark Humphrey

U.S. gross domestic product rose by an annual rate of 3.0 percent in the third quarter of 2017, a higher-than-expected rate in the wake of hurricanes that hit Florida, Texas and Puerto Rico.

Analysts were expecting a 2.5 percent increase, and even President Trump was expecting growth under 3 percent because of the storms.

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