Investing.com - The U.S. economy grew less than initially estimated in the third quarter, but still beat expectations, official data showed on Tuesday.
The Commerce Department said gross domestic product rose 2.0%, better than expectations for 1.9%. Preliminary data initially pegged U.S. growth at 2.1% in the third quarter.
Personal consumption increased 3.0% in the third quarter, above forecasts for 2.9%.
The better than forecast data fueled speculation the U.S. economy is strong enough to warrant further interest rate hikes in 2016.