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U.S. economic growth slowed dramatically in the third quarter, according to preliminary data released by the Commerce Department on Thursday.

The Commerce Department said real gross domestic product increased by 2.0 percent in the third quarter after jumping by 6.7 percent in the second quarter. Economists had expected the pace of GDP growth to slow to 2.7 percent.

The bigger than expected slowdown in GDP growth came as consumer spending rose by 1.6 percent in the third quarter after spiking by 12.0 percent in the second quarter.


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