US economy picks up in third-quarter; data surprise on the upside

Ship and containers are shown at the port of Los Angeles in Los Angeles, California. - Reuters filepic

WASHINGTON: U.S. economic growth picked up slightly in the third quarter, rather than slowing as initially reported, and there are signs the downturn in business investment may be drawing to a close.

The modest firming in growth reported on Wednesday by the government came alongside data showing the number of Americans filing claims for unemployment benefits dropped last week after standing at a five-month high for two straight weeks.