US economy grows at surprising 2.8 pct. rate in Q3

US economy grows at surprising 2.8 pct. rate in Q3

WASHINGTON (AP) — The U.S. economy expanded at a 2.8 percent annual rate from July through September, a surprising acceleration ahead of the 16-day partial government shutdown. But much of the strength came from a buildup in unwanted stockpiles. Home construction also rose and state and local governments spent at the fastest pace in four years. But businesses spent less on equipment, federal spending fell and consumers spent at a slower pace. All are troubling signs for the final three months of the year.