GDP picks up in third quarter

WASHINGTON, Nov. 7 (UPI) —
The U.S. economy grew at an annual rate of 2.8 percent in the third quarter of 2013, the Commerce Department said Thursday, in the first of three estimates.

The GDP report is scheduled for two revisions with a final estimate expected in in January.

In the first quarter of the year, the GDP rose 1.1 percent. In the second, it rose 2.5 percent, the Bureau of Economic Analysis has said in previous reports.