US GDP jumps to 2.5% in Q3

US growth has risen to 2.5% for the third quarter, up from 1.3% the previous quarter.

The gross domestic product report from the US Department of Commerce was in line with expectations.  The data showed consumers and businesses have stepped up spending despite the global economic slowdown.  Consumer spending climbed 2.4%, the highest rate since Q4 last year. The report also shown inflation has dipped from 3.3% to 2%.  "The increase in real GDP in the third quarter primarily reflected positive contributions from personal consumption expenditures, non-residential fixed investment, exports, and federal government spending," said the report. "This was partly offs...