Strengthening US growth reflects help from Fed


By MARTIN CRUTSINGER, AP Economics Writer


WASHINGTON (AP) - The U.S. economy grew at a solid annual rate of 3.5 percent in the July-September quarter, propelled by solid gains in business investment, export sales and the biggest jump in military spending in five years.


The Commerce Department says that the third quarter result followed a 4.6 percent rebound in the second quarter. The economy shrank at a 2.1 percent rate in the first three months of the year due to a harsh winter.


The report was the first of three estimates of the gross domestic product, the economy's total output of goods and services. Economists believe the economy is maintaining momentum in the current quarter with consumer spending expected to be helped by a big fall in gas prices.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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