US economy expands 5.2% in Q3, Q2 reading show

Figure much higher than expectations of 4.9%

By Ovunc Kutlu

ISTANBUL (AA) - The US economy expanded 5.2% in the third quarter, beating estimates, according to the Commerce Department's first and advance reading released Wednesday.

It was higher than market expectations of 4.9%, while the American economy expanded 2.1% in the second quarter.

The figure is also an upward revision from the 4.9% first reading made in October.

The current dollar GDP jumped 8.9%, or $581.5 billion, at an annual rate in the third quarter to $27.64 trillion, the Commerce Department said in a statement.

The current dollar personal income climbed $218.3 billion in the third quarter, an upward revision of $18.8 billion from the previous estimate, it added.

Personal savings, meanwhile, was $815.4 billion in the third quarter -- an upward revision of $51 billion from the previous estimate.

Kaynak: