U.S. third-quarter GDP growth is revised downward, but it's still growth

More decent news for the economy: U.S. GDP increased a revised 2.8% in the third quarter, the U.S. Commerce Department announced Tuesday. That's down from the government's initial 3.5% GDP growth estimate, but it's a level that still indicates an adequate expansion of commercial activity.

A Bloomberg News economists survey had expected the revised quarterly figure to increase 2.8%. The Commerce Department revises its GDP estimate for each quarter as it receives more complete information than was previously available.