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The U.S. economy grew faster than initially thought in the third quarter, notching its quickest pace in three years, as increases in business investment in inventories and equipment offset a moderation in consumer spending.That was the fastest pace since the third quarter of 2014 and a pickup from the second quarter's 3.1 percent rate.Businesses accumulated inventories at a $39 billion pace in the third quarter, instead of the previously reported $35.8 billion rate.Growth in consumer spending, which accounts for more than two-thirds of the U.S. economy, was revised down to a 2.3 percent rate in the third quarter from the previously reported 2.4 percent pace.The saving rate was lowered to 3.3 percent in the third quarter from the previously reported 3.4 percent.
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