(From FT Investor (Stories))
The US economy grew in the third quarter at its fastest rate in more than 19 years, according to preliminary estimates of gross domestic product growth in the three months to September.
The Commerce Department said GDP expanded by a seasonally adjusted annual rate of 7.2 per cent in the quarter, far more than the 6 per cent forecast by economists. The economy grew by 3.3 per cent in the second quarter.
Growth was led by continued strong consumer activity, aided by low borrowing costs and the Bush administration's tax cuts. Consumer spending rose by 6.6 per cent.
Business spending rose by 11.1 per cent, the …