WASHINGTON— The U.S. economy accelerated between July through September, growing an annualized rate of 2 percent, the government said Friday in a report that slightly exceeded expectations.

After growing at just 1.3 percent in the second quarter, the economy sped up in the subsequent three months, beating analyst expectations of a 1.8 percent third-quarter growth rate.

The quarterly growth was powered by a boost in consumer spending, but was restrained by tame business investment. This mirrors polls of sentiment, which show a more upbeat consumer and less positive businesses.

Coming back from the worst recession since the Great Depression, the economy continues to underperform, however. While an improvement, the growth rate is nowhere near what is needed to knock down the 7.8 percent unemployment rate.