US growth rate revised downwards

**The US economy grew by less than originally estimated between July and September, official figures show.**The latest estimate said the economy grew at an annual pace of 2.2%, down from the previous estimate of 2.8%. The first reading had shown growth of 3.5%.

It is the first quarter in which the US economy returned to growth, after four quarters of decline.

There is concern that the country’s high unemployment rate could hamper the recovery.

US GDP is expressed as an annualised rate, or annual pace, which shows what the annual rate would be if the latest change continued for the rest of the year.

The main factors behind the lower growth were that consumers did not spend as much as first thought, commercial construction was weaker and companies cut back on inventories.