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Economic Growth On Fast Track

October 29, 2010 Leave a comment Go to comments

Well that is wishful thinking, but it was on a faster pace in Q3.

The economy grew at a slightly faster pace over the summer as Americans spent a little more freely. The Commerce Department said Friday that the economy expanded at a 2 percent annual rate in the July-September quarter. It marked an improvement from the feeble 1.7 percent growth in the April-June quarter.

Still, the economy isn’t growing at a strong enough pace to make a noticeable dent in high unemployment and nearly 15 million Americans are out of work.

Consumers helped boost last quarter’s economic growth with 2.6 percent growth in spending. That was better than the second quarter’s 2.2 percent growth rate and marked the biggest quarterly increase since a 4.1 percent gain at the end of 2006 before the recession hit.

Full Article from AP: Economy Grows At Slightly Faster Pace In Q3

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