On the Economic Front...
The U.S. economy grew at an 8.2 percent annual rate in the third quarter, faster than the government initially estimated as companies boosted inventories in September to meet the surge in demand.
The nation's gross domestic product, the value of all goods and services produced, grew from July through September at the fastest pace since the first three months of 1984, when Ronald Reagan was president. The Commerce Department previously reported a 7.2 percent third-quarter growth rate, following a 3.3 percent pace in the second quarter.
"Growth is now super-super strong compared to super strong,'' said Joseph LaVorgna, senior U.S. economist at Deutsche Bank Securities, whose forecast of 8.3 percent was the highest in a Bloomberg News survey.
Consumer spending increased at a 6.4 percent annual rate last quarter, the fastest pace in six years, and retailers such as Williams-Sonoma Inc. restocked shelves to help satisfy anticipated sales. A measure of profit widened to a record $739.7 billion, giving companies confidence to increase spending.
Get the rest of the analysis from Bloomberg.
Matt's Chat
Looks like we've got some sustained growth here...and the forecasts are looking pretty good. Although I will admit (again) that I'm no financial genius by any stretch of the imagination.Mark's Remarks
Let me help the Ted Kennedys of the world, the blinded by hate liberals: THERE IS NOT ECONOMIC GROWTH, ALL THE PAPERS ARE LYING, IT WAS ALL MADE UP IN TEXAS!
Anyone buying that crap? Didn't think so...Don't anyone say I did not try to get the liberal arguments out there......Ahh.....to be so much the focus of others' lives....it really is quite invigorating.....Don't you think?
