details

The economy grew at a 2.1 percent annual pace in the third quarter, up from the 1.9 percent rate previously reported by the Commerce Department.

“The increase in real GDP [gross domestic product] in the third quarter reflected positive contributions from PCE, federal government spending, residential investment, private inventory investment, exports, and state and local government spending that were partly offset by a negative contribution from nonresidential fixed investment,” the Commerce Department said Wednesday.

The figure is well below the 3 percent annual growth rate the Trump administration promised its policies would produce regularly, but has yet to achieve.

Corporate profits were also down significantly, falling to $4.6 billion from $75.8 billion in the previous three months.

official describes frantic effort to save recalled Ukraine ambassador MORE’s sails as he seeks reelection.