A measure of private domestic demand, which excludes trade, inventories and government spending, was revised down to a still sturdy 3.1 percent pace from the previously 3.2 percent rate.
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Though there are signs consumer spending slowed early in the fourth quarter, it is likely to remain supported by a tightening labor market, rising house prices, which are boosting household wealth, as well as low inflation.
Growth in exports, which have been hurt by a strong dollar and sluggish global demand, were revised to show a slower 0.9 rate of increase. With imports rising at a slightly faster pace than previously reported, that left a trade deficit that subtracted 0.22 percentage point from GDP growth.
Trade was previously reported to have had a neutral impact on GDP growth.
Deep spending cuts by energy firms following a collapse in oil prices continued to weigh on growth. Spending on mining exploration, wells and shafts tumbled at a 47.1 percent rate, rather than the 46.9 percent pace reported last month.
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Investment in nonresidential structures contracted at a 7.1 percent pace, instead of the previously reported 4.0 percent rate. However, business spending on equipment was revised up to a 9.5 percent rate from a 5.3 percent pace.
The Commerce Department also reported that corporate profits after tax fell at a 1.6 percent rate in the third quarter after rising at a 2.6 percent pace in the second quarter. Profits, which have been undercut by the dollar's strength and lower oil prices, were down 8.1 percent from a year ago, the biggest decline since the fourth quarter of 2008.
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