The United States economy grew at a rapid pace in the third quarter of this year, according to Commerce Department data released Tuesday, CNN reported.
This quarter's gross domestic product showed that the US economy expanded at a real annual rate of 4.3 percent, a faster pace than in the second quarter.
Consumer spending and exports are the two key factors driving this growth.
Based on these results, the Federal Reserve has less need to lower interest rates to support the economy going forward.
However, economists say persistent and potentially worsening inflation could make a January interest rate cut by the Federal Reserve less likely, even as central bank officials remain concerned about a slowing labor market.
