Third-Quarter Economic Growth Revised Upward | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

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

You Definitely Need This Condo Pony, And Other Products From 'SkyMaul'

"The Hot Dog Clock" and "The Forever Diaper" are also must-haves. A San Francisco comedy group is once again poking fun at the in-flight catalog SkyMall.
NPR

From NFL To 'Scandal,' Whole Foods Buys TV Ads To Boost Its Brand

A pioneer in selling organic, sustainable groceries, Whole Foods now finds itself beset by competitors. So it's launching its first national ad blitz to sell socially conscious consumers on its story.
NPR

Obama Has To Balance His Base Without Hurting Dems In Red States

If Democrats have a chance of hanging onto Senate seats in southern states, they need to do well with African American voters. But for President Obama, that creates a difficult balance between turning out the base and energizing GOP voters who don't like him.
NPR

In Silicon Valley, Paying For Access To Peace Of Mind

The San Francisco area is the home to the high-tech sector and has a history of embracing Eastern spirituality. Now the two meet in the yoga and meditation classes popular with the local tech workers.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.