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Third-Quarter Economic Growth Revised Upward

The U.S. economy grew at a 2.7 percent annual rate in the third quarter, the Bureau of Economic Analysis says. That's a sharp upward revision in its estimate of gross domestic product growth from mid-summer into the fall. In its first look at the quarter's GDP, the agency estimated growth at a 2 percent annual rate.

According to BEA, consumer spending, inventory investment, exports and federal spending all contributed to growth from July 1 through Sept. 30.

In the second quarter, GDP expanded at a 1.3 percent annual rate.

Also this morning:

There were 393,000 first-time claims for jobless benefits last week, down by 23,000 from the week before, the Employment and Training Administration reports.

The decline brings claims back into the 350,000-to-400,000 pace they had been running at before Superstorm Sandy pummeled the Mid-Atlantic and Northeast in late October.

Wednesday, there was more modestly good economic news — about the housing market.

Copyright 2012 National Public Radio. To see more, visit http://www.npr.org/.

NPR

'Southside With You' Has Us Asking: Where Is The Love In Black Movies?

The movie Southside with You is opening in theaters. The film follows Michelle and Barack Obama's very first date, and shows something we don't get too see too often in film: black romance.
NPR

Ramen Noodles Are Now The Prison Currency Of Choice

Ramen will buy anything from smuggled fruit to laundry services from fellow inmates, a study at one prison finds. It's not just that ramen is tasty: Prisoners say they're not getting enough food.
NPR

Episode 721: Unbuilding A City

Why is it so hard to knock down 17 vacant houses in a shrinking city?
WAMU 88.5

Want To Play Video Games Made In D.C.? Here's Your Chance.

An event called District Arcade brings together 23 locally made video games.

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