U.S. Economy Grew at 2.8% Rate in Third Quarter

Rising wages and low unemployment meant that Americans continued to earn more, while inflation continued to ease: Consumer prices rose at a 1.5 percent annual rate in the third quarter and were up 2.3 percent from a year earlier. Data released last month showed that incomes and savings were stronger than initially reported, and recent data on the job market has been strong. Spending should continue to grow — especially because data released by the Conference Board this week showed that consumers were at last feeling more confident in the economy.