|U.S. economy grew at 2.7 percent rate in summer||| Print ||
|Written by MARTIN CRUTSINGER, AP Economics Writer|
|Thursday, 29 November 2012 09:40|
WASHINGTON (AP) — The U.S. economy grew at a faster 2.7 percent annual rate from July through September, although the strength may fade in the final months of the year.
The Commerce Department says growth in the third quarter was much better than the 2 percent rate estimated a month ago and more than twice the 1.3 percent rate logged in the April-June quarter.
The two biggest factors in the upward revision were larger gains in business stockpiles and a boost in export sales. That offset weaker consumer spending.
Economists believe growth is slowing to a rate below 2 percent in the current October-December quarter because of disruptions from Superstorm Sandy and worries about sharp tax increases and spending cuts that would occur in January without a budget deal in Washington.
Copyright 2012 The Associated Press.
Front Page Stories
|Vigil set for BGSU student
07/24/2014 | Associated Press
CLEVELAND (AP) — A vigil for a Bowling Green State University student who was found dead in Lorain [ ... ]
|BG park and rec fees to increase|
07/24/2014 | PETER KUEBECK, Sentinel City Editor
The Bowling Green Park Board Tuesday night approved a slate of fee increases to [ ... ]