U.S. third-quarter GDP growth revised slightly higher

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  • The U.S. economy grew at a record pace in the third quarter, fueled by more than $3 trillion in pandemic relief.
  • The economy appears to have lost momentum, however, as the year drew to an end amid raging new Covid-19 cases and dwindling fiscal stimulus.
  • Gross domestic product rebounded at a 33.4% annualized rate last quarter, the Commerce Department said in its third estimate of GDP.

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