Economic growth revised sharply higher

Wednesday November 30, 1:37 PM EST
By Andrea Hopkins

WASHINGTON (Reuters) - U.S. economic growth was much stronger last quarter than first thought as spending rose more than estimated, while divergent inflation signals in government and private-sector data on Wednesday left economists puzzled over price pressures.

Gross domestic product, a measure of all goods and services produced within U.S. borders, grew at a revised 4.3 percent annual rate in the July-to-September period, the fastest pace since the first three months of 2004, the Commerce Department said. That report also showed inflation was milder than first thought.

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