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U.S. economy grows at 3.6% rate in 3rd quarter

By The Associated Press

This article was published December 5, 2013 at 8:04 a.m.

WASHINGTON — The U.S. economy grew at a 3.6 percent annual rate from July through September, the fastest since early 2012. But nearly half the growth came from a buildup in business stockpiles, a trend that could reverse in the current quarter and hold back growth.

The Commerce Department's second estimate of third-quarter growth released Thursday was sharply higher than the initial 2.8 percent rate reported last month. And it was well above the 2.5 percent growth rate for the April-June quarter.

Almost the entire third-quarter revision came from a big jump in stockpiles. Consumer spending, the lifeblood of the economy, was the weakest in nearly four years.

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