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Economic Report: GDP hits 2.9% in biggest gain since mid-2014

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The U.S. economy heated up in the third quarter after chilly growth in the first half of the year.

WASHINGTON (MarketWatch) — The U.S. economy grew in the third quarter at the fastest pace in two and a half years, aided by a surge in exports and a rebound in the size of inventories companies keep on hand for sale.

The government said gross domestic product, the official scorecard for the economy, expanded at a 2.9% annual clip from July through September. That’s a marked improvement from the first half of the year when the U.S. grew just barely over 1%.

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