US economy grew at strong 3.5 percent rate in Q3
{{#rendered}} {{/rendered}}FILE- In this Aug. 22, 2018, file photo trucks travel along a loading dock at the Port of Long Beach in Long Beach, Calif. On Friday, Oct. 26, the Commerce Department issues the first of three estimates of how the U.S. economy performed in the third quarter. (AP Photo/Marcio Jose Sanchez, File)
The U.S. economy grew at a robust annual rate of 3.5 percent in the July-September quarter as the strongest burst of consumer spending in nearly four years helped offset a sharp drag from trade.
The Commerce Department says the third quarter's gross domestic product, the country's total output of goods and services, followed an even stronger 4.2 percent rate of growth in the second quarter. The two quarters marked the strongest consecutive quarters of growth since 2014.
The result was slightly higher than many economists had been projecting. It was certain to be cited by President Donald Trump as evidence his economic policies are working. But some private economists worry that the recent stock market declines could be a warning signal of a coming slowdown.