The U.S. economy unexpectedly grew by less than previously estimated in the third quarter of 2023, the Commerce Department revealed in a report released on Thursday.
The report said real gross domestic product jumped by 4.9 percent in the third quarter, reflecting a downward revision from the previously reported 5.2 percent surge. Economists had expected the pace of GDP growth to be unrevised.
The Commerce Department said the slower than previously estimated GDP growth primarily reflected a downward revision to consumer spending.
