US economy grows by 2.8% in third quarter, slower than expected

Investing.com -- The US economy grew at a slower than expected rate in the third quarter despite signs of waning inflationary pressures and solid wage gains.

In a release only days before the US holds a deeply contentious election that is likely to see Americans vote with their wallets in mind, preliminary data from the Commerce Department showed gross domestic product in the world's largest economy rose by 2.8% in the July-September period.

Economists had predicted the figure would match the second quarter's pace of 3.0%.

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