Fresh data seem to suggest the U.S. economy is revving up, with growth rising at its fastest pace in two years. Yet a deeper look at the numbers reveals that strength may be overstated. Worse, that could spur the Federal Reserve to raise interest rates too soon.
Between July and September, the nation’s gross domestic product rose an annualized 2.9 percent, far exceeding economists’ forecast and a big jump from the tepid pace seen earlier in the year. On the surface this is great news.
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