The U.S. economy expanded at a rate of 4.3% in the third quarter, the fastest pace in two years.

The U.S. economy expanded at its fastest pace in two years in the third quarter, supported by resilient consumer and business spending and a more stable trade policy. The Bureau of Economic Analysis reported Tuesday that the initial estimate of annualized real GDP growth in the third quarter, adjusted for inflation, was 4.3%, compared to 3.8% in the second quarter, also supported by household spending. Earlier reports indicated that the initial estimate of U.S. third-quarter GDP exceeded expectations, while core PCE met expectations.