Trade, defense buoy U.S. economy, but some weakness creeps in

A smaller trade deficit and surge in defense spending buoyed U.S. Gross domestic product grew at a 3.5 percent annual pace, the Commerce Department said on Thursday. Despite decelerating from the second quarter's robust 4.6 percent growth rate, it was the fourth quarter out of five that the economy has expanded at or above a 3.5 percent clip.

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