Economic growth was weaker in the third quarter than originally reported, according to government data released Tuesday.
The gross domestic product, the broadest measure of the nation's economic activity, rose at an annual rate of 2.8% in the three months ending in September, according to the Commerce Department's first revision of the reading. The initial reading of the report a month ago came in with a 3.5% growth rate.
The decline in the growth rate was expected, in large part because of a recent report showing a growing gap between the nation's imports and exports. Importing goods from other countries is a drag on domestic U.S. growth.
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