Dec. 21 (Bloomberg) -- The U.S. economy grew at a 4.1 percent annual rate in the third quarter, propelled by free-spending consumers who already show signs of pulling back.
The final revision of gross domestic product, the total volume of goods and services produced in the U.S., was less than the 4.3 percent rate reported last month and compares with 3.3 percent in the second quarter, the Commerce Department said today in Washington. A measure of inflation watched by the Federal Reserve rose 1.4 percent, up from 1.2 percent reported last month.
Today's report is the last of three measuring economic growth in the third quarter. The preliminary report, which showed the economy expanded by 4.3 percent, was published Nov. 30. The advance report, which estimated growth at 3.8 percent, was released Oct. 28.
Consumer spending is forecast to slow to a three-year-low of 1.4 percent at an annual rate in the fourth quarter from 4.2 percent, according to the median of 66 estimates in a Bloomberg News survey from Nov. 30 to Dec. 9. The economy will expand 3.3 percent at an annual rate from October to December, the median of 72 estimates in another Bloomberg survey.
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