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U.S. Economy Grew at 3% Rate in 3rd Quarter, Despite Storms

October 27, 2017

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In a show of resilience, the American economy grew at a solid pace in the latest quarter despite the impact of the hurricanes in Texas and Florida.

The nation’s gross domestic product, a key indicator of economic strength, expanded at an annual rate of 3 percent in the third quarter, the Commerce Department reported on Friday. Economists initially expected that Hurricanes Harvey and Irma would deal a blow to the country’s steady growth, but became more optimistic in recent weeks.

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