The US economy expanded at a solid pace in the third quarter, largely powered by a broad-based advance in consumer spending and steady business investment.

The American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its initial estimate of third-quarter growth.

The U.S. economy grew at an annualized 2.8 percent pace in the third quarter, driven by strong consumer spending and rising exports, according to revised data released by the Commerce Department. Though slightly slower than the previous quarter's 3 percent growth,

The American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its initial estimate of third-quarter growth.