The Commerce Department released its initial estimate of third-quarter economic growth on Friday, providing the latest snapshot of the American economy. The Numbers • United States gross domestic product rose at an annualized rate of 3.5 percent in the quarter, compared with 4.2 percent in the second quarter. • Consumer spending increased by 4 percent. The category accounts for roughly 70 percent of economic output, and was strong in both the third and second quarters. • The restocking of shelves and warehouses by businesses contributed substantially to the economy. Always volatile and hard to predict, inventory additions added more than 2 percentage points to overall growth. The Takeaway Analysts had expected the economy to slow somewhat after a blockbuster second quarter, and the economy remains on track to grow 3 percent or more this year, the first time it has achieved that pace since 2005. On the surface, the […]