While you were sleeping: US growth accelerates

Tue, 23 Dec 2014

By Margreet Dietz Dec. 24 (BusinessDesk) - Wall Street rose, pushing both the Dow and the S&P 500 to record highs, after a report showed the US economy expanded more than forecast in the third quarter, growing at the fastest pace since 2003, bolstering optimism about the outlook. A Commerce Department report showed US gross domestic product grew at a 5 percent annual rate, up from a previously estimated 3.9 percent. "After four years of rocky recovery the US economy is now hitting its stride ... and growth should remain good next year,...

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