Friday, December 20, 2013

Oh, about that 'austerity' complaint...

The U.S. economy grew at a healthy 4.1% annual rate in the third quarter, revised figures showed Friday, boosting hopes that the recovery is shifting into higher gear after years of sluggishness.
The Commerce Department previously pegged the annual growth rate from July through September at 3.6%. But new data indicated stronger gains in consumer and business spending over the summer.
Friday's new estimate showed gross domestic product, the broadest measure of all goods and services produced in the economy, expanding at the fastest pace since the fourth quarter of 2011 and the second-fastest since the recovery began in mid-2009.
Not exactly what Paul Krugman was expecting from sequestration, was it.

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