On an annualized basis, the US economy expanded by 3.1% in the same period of the year, compared with 3% in the period from April to June.

The US gross domestic product (GDP) rose 0.8% in the third quarter compared with the previous three months, when the world's largest economy grew seven-tenths of a percent, according to a third reading by the Bureau of Economic Analysis of the Department of Commerce.

The US economy thus again showed signs of strength between July and September compared to other advanced economies, with the eurozone growing by 0.4%, Japan by 0.3% and the United Kingdom by 0.1%. China's GDP grew by 0.9% in the third quarter.

On an annualized basis, US GDP rose 3.1% in the third quarter of the year, compared with 3% in the April-June period.

The U.S. economy's expansion in the third quarter was driven primarily by increases in consumption, exports, nonresidential fixed investment and federal government spending, while imports, which are a subtraction in the calculation of GDP, increased between July and September.

Compared with the second quarter, the acceleration in real GDP in the quarter largely reflected increases in exports, consumption, and federal spending. In contrast, declines in inventory investment and residential fixed assets detracted from growth.