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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.

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NPR

'The Wake' Is An Unlikely Hit In An Imaginary Language

Paul Kingsnorth self-published The Wake, his tale of the 11th-century Norman conquest of England, written in a pastiche of Old and modern English — and was startled when it became a smash hit.
NPR

Philly Preps Blessed Beer And Other Edible Swag To Greet Pope Francis

Enterprising businesses will mark the pope's visit to Philadelphia next month with irreverent tchotchkes — including beers brewed with holy water and toasters that etch the pontiff's face on bread.
WAMU 88.5

The Politics Hour - August 28, 2015

We chat with D.C. Police Chief Cathy Lanier about the city's strategy to combat the spike in violent crime taking place in the nation's capital.

NPR

New Tesla Breaks Consumer Reports' Ratings Scale, Bolsters Company's Stock

"It kind of broke the system," says Jake Fisher, director of the magazine's auto test division. Tesla's stock rose 8 percent Thursday.

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