The US economy is performing strongly. GDP grew at its fastest pace in two years between July and September – up by 2.9 percent from the same period last year, a big increase on the 1.4 percent pace in the second quarter.<br /><br /> There was a surge in exports and companies built up their inventories after running them down in the second quarter. <br /><br /> That offset a slowdown in consumer spending, which accounts for more than two-thirds of US economic activity. It increased at a 2.1 percent rate, down from the second quarter’s robust 4.3 percent<br /><br /> The first estimate of growth comes just weeks before the presidential election and will be seized on by Democrat candidate Hillary Clinton as proof that her party’s policies work. <br /><br /> The numbers should help back up what the Federal Reserve policymakers have said – that the US economy is making slow and steady progress. They also increase the possibility of an interest rate hike by the Fed in December.<br />
