The U.S. economy expanded at a 3.6% annual rate in the third quarter, up from an initial estimate of 2.8% growth, the Commerce Department said Dec. 5.
The gross domestic product reading was higher than economists’ median forecast of a 3.1% rate, Bloomberg News reported.
The rise was led by an increase in business inventories to a $116.5 billion annual pace in the third quarter, the most since 1998, after a previously reported $86 billion rate.
GDP measures the value of all goods and services produced.
“The big boost is from inventories, but the big question for fourth-quarter growth is whether this is voluntary inventory expansion or involuntary,” Sam Coffin, an economist at UBS Securities, told Bloomberg.