U.S. Economy Expanded at a Revised 4.9% Annual Pace

Jeffry Bartash of MarketWatch is reporting that the economy has slowed toward year’s end. He writes:

The numbers: The U.S. economy expanded at a revised 4.9% annual pace in the third quarter, a surprising burst of growth that appears to have tapered off at year’s end.

Growth of gross domestic product, the official scorecard for the economy, was reduced from a previously reported 5.2% in the government’s third estimate. It was still the biggest increase in GDP in a decade, however, excluding the pandemic years of 2020-21.