U.S. Economy Grew At A 3.5 Percent Rate In 3rd Quarter

A Ford F-150 pickup is assembled at a plant in Dearborn, Mich., on Sept. 27.

Rebecca Cook / Reuters

Updated at 4:39 p.m. ET

The economy expanded at a 3.5 percent annual rate in the third quarter, the Commerce Department said Friday. That’s slower than the second quarter’s blockbuster 4.2 percent, but it puts the economy on pace for the fastest annual growth in 13 years.

Private analysts had estimated a 3.4 percent growth rate in gross domestic product for the third quarter.