(National Sentinel) Great Again: The Commerce Department revised 3rd quarter economic growth up on Wednesday to 3.3 percent from its previous estimate of 3 percent.
That’s the fast pace for the U.S. economy in three years, though through former President Obama’s eight years the economy never achieved 3 percent growth, making the 44th president the first in U.S. history never to meet that mark.
“The increase means economic growth was stronger in the third quarter than previously believed despite the damage done by hurricanes Harvey and Irma,” Breitbart News reported.
Also, the upward revision indicates the U.S. economy has been growing at a rate much closer to what President Donald J. Trump said he would achieve, despite skepticism from many economic forecasters.
Meanwhile, the Commerce Department noted that consumer spending edged up 2.3 percent, while corporate pretax earnings also rose by 5.4 percent, compared to a year ago.
The most recent GDP report is the second of three estimates. The final read is due in December, Breitbart noted.