US real gross domestic product grew at an annual rate of 2.9% in the third quarter, according to the “advance” estimate of GDP growth released today by the US Commerce Department.

In the second quarter, real GDP advanced 1.4%.

The economy grew in the third quarter at the fastest pace in two years, aided by a spike in soybean and other US exports and a rebound in the size of inventories companies keep on hand for sale, MarketWatch reported. The acceleration in growth, along with a steady pace of hiring, is expected to prod the Federal Reserve to raise a key US lending rate in December, MarketWatch noted.

Jason Furman, chairman of the Council of Economic Advisers, also commented on the GDP number in a blog post.

“The economy grew 2.9% at an annual rate in the third quarter of 2016, a noticeably faster pace than in the first half of the year,” Furman wrote. “Exports, which have faced significant headwinds in recent years from slow growth abroad, grew at an annual rate of 10.0% in the third quarter, their fastest quarterly pace since 2013. Consumer spending continued to grow at a solid pace in the third quarter, while inventory investment (one of the most volatile components of GDP) boosted GDP growth after subtracting from it in the prior five quarters. In contrast to the pattern of recent quarters, business fixed investment also contributed positively to GDP growth, though it continues to be restrained by slower global growth.”