US Economic Growth for Last Quarter Is Revised up to 5.2 Percent Annual Rate

WASHINGTON—Shrugging off higher interest rates, America’s consumers spent enough to help drive the economy to a brisk 5.2 percent annual pace from July through September, the government reported Wednesday in an upgrade from its previous estimate. The government had previously estimated that the economy grew at a 4.9 percent annual rate last quarter. Wednesday’s second estimate of growth for the July–September quarter confirmed that the economy sharply accelerated from its 2.1 percent rate from April through June. It showed that the U.S. gross domestic product—the total output of goods and services—grew at its fastest quarterly rate in nearly two years....