Economic Growth in U.S., Though Still Modest, Speeds Up |
| New York Times - Oct 27, 2011 |
Economic growth in the United States picked up in the third quarter, the Commerce Department said Thursday, in an encouraging sign that the recovery, while still painfully slow, has not stalled.
Total output grew at an estimated annual rate of 2.5 percent from July to September, still modest but almost double the 1.3 percent rate in the second quarter, the department reported.
The pace, however, was not brisk enough to recover the ground lost in the economic bust, lower unemployment or even substantially dispel fears of a second recession. Still, the report offered a small helping of reassurance.
“It ain’t brilliant, but at least it’s heading in the right direction,” said Ian Shepherdson, the chief United States economist for High Frequency Economics, a data analysis firm. “I want to see 4 percent, but given that people were talking about a new recession, I’ll take 2.5 or 3, thanks very much.”
Read Full Article from New York Times
- Posted: 2011-10-27 11:43:03
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