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Title: GDP report: Economic growth ticks up to 2.6%
Source:
CNN
URL Source: http://money.cnn.com/2010/12/22/news/economy/gdp/index.htm?hpt=T2
Published: Dec 22, 2010
Author: CNN
Post Date: 2010-12-22 09:36:25 by go65
Keywords: None
Views: 1682
Comments: 5
NEW YORK (CNNMoney.com) -- The U.S. economy grew at a slightly faster pace during the third quarter than previously estimated, driven by stronger consumer spending, the government said Wednesday. Gross domestic product, the broadest measure of the nation's economic activity, grew at an annual rate of 2.6% in the three months ended in September, according to the Commerce Department, up from the previous reading of a 2.5% rise. Economists expected the third and final reading of third quarter GDP, which is a measure of goods and services produced in the United States, to tick up to 2.7%, according to a consensus of economist opinion from Briefing.com. The government calculates GDP as a measure of goods and services produced in the United States. The number is often revised multiple times. This is the third and final reading for the quarter. While the pace of economic growth is improving, the rate is still considered weak for a recovery. But outlooks are improving. In an exclusive survey of economists conducted during the last week by CNNMoney.com, the consensus forecast for economic growth during the fourth quarter rose to 3.1%. Just three months ago, economists were looking for a 2.5% for the last three months of the year.
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#1. To: go65 (#0)
It will be revised downward in three weeks, as usual. The reality is this is 'treading water' economically.
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