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Economy grows at 3.6 percent rate in third quarter

The Commerce Department's second estimate of third-quarter growth released Thursday was sharply higher than the initial 2.8 percent rate reported last month.

By Martin Crustsinger | Updated on December 05, 2013
A covered vehicle sits in part of the new paint shop at Chrysler's Sterling Heights Assembly Plant in Sterling Heights, Mich. (AP Photo/Paul Sancya, File)

WASHINGTON (AP) — The U.S. economy grew at a 3.6 percent annual rate from July through September, the fastest since early 2012. But nearly half the growth came from a buildup in business stockpiles, a trend that could reverse in the current quarter and hold back growth.

The Commerce Department’s second estimate of third-quarter growth released Thursday was sharply higher than the initial 2.8 percent rate reported last month. And it was well above the 2.5 percent growth rate for the April-June quarter.

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