The U.S. economy grew slightly slower than expected in the third quarter amid easing inflation and strong consumer spending.

The Commerce Department's Bureau of Economic Analysis released its advance estimate for third-quarter gross domestic product (GDP), which found the U.S. economy grew at an annual rate of 2.8% in the third quarter, which runs from July through September.

Economists surveyed by LSEG had expected the economy to grow at a 3% rate in the quarter.

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