GDP grows a modest 2% in 3rd quarter |
| Los Angeles Times - Oct 29, 2010 |
Reporting from Washington — The American economy is showing a little more pep in its step, the government reported Friday, but not enough to help bring down high unemployment or put the country on the road to sustained and widespread prosperity.
The nation's gross domestic product — the total value of goods and services produced inside U.S. borders — grew at a modest annual rate of 2% in the third quarter, up from 1.7% in the second quarter, the Commerce Department said.
Even though the United States is at least technically in the process of recovering from the worst recession in decades, the slow growth rate, high unemployment, the devastated housing market and widespread uncertainty over the future have seeded clouds of political resentment that shadow next Tuesday's congressional elections — especially for Democrats, who control both Congress and the White House.
Read Full Article from Los Angeles Times
- Posted: 2010-10-29 21:44:13
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