U.S. Economy Quickens Its Pace

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U.S. Economy Quickens Its Pace

AP / Sang Tan

A visitor stands in front of “200 One Dollar Bills,” a painting by Andy Warhol on display in London.

The U.S. economy had a bit of a pickup during this year’s third quarter, showing growth of 2 percent. Meanwhile, the housing market remains limp and high unemployment recalcitrantly hovers at 9.6 percent. —JCL

The BBC:

The US economy grew at an annualised rate of 2% in the July-to-September period, an acceleration on the previous quarter, official figures have shown.

The expansion came despite continuing high unemployment and weakness in the housing market.

The 2% figure is an improvement on the upwardly revised 1.7% increase between April and June, but less than the 3.7% growth recorded from January to March.

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By cruxpuppy, October 30, 2010 at 9:48 pm Link to this comment

The apparent increase of GDP is owing to the growth of inventories of about 1.4%. This anticipates future use of those inventories or simply replacement of existing stocks. Real growth is probably below 1%. ( Thanks, Mike Whitney )

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