The gross domestic product (GDP) American grew 3.5% in the third quarter, from July to September, according to the Department of Commerce. Analysts expected an increase of 3% once in the second quarter the US economy leading it back by 0.7%.
The Department of Commerce required that the upturn in GDP primarily reflected the positive contribution of the expense of consumers, as well as exports, government spending and residential investment.
In this respect, personal consumption expenditure recorded an advance of 3.4% in the quarter, its biggest advance in two years, compared with the decline of 0.9% of the previous three months. In fact, investment in durable goods rose 22.3%, with the decline of 5.6 per cent from the previous quarter, while purchases of non-durable goods rose 2%, compared to the decline of 1.9 per cent between April and June.
"The increase in the third quarter reflects largely the purchase of automobiles under the programme 'Money to scrap'," said the Department of Commerce, which pointed out that, without the contribution of the automotive sector, GDP had grown by 1.84%.
On the other hand, the price index linked to the consumer spending recorded an advance of 1.6%, compared to the growth of half a point from the previous quarter.