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

NPR : News

Filed Under:

Third Quarter Economic Growth Revised Up Again

The best estimate of how quickly the economy was growing in the third quarter has been revised upward again — a sign that as summer turned into fall things were better than first thought.

The Bureau of Economic Analysis now says gross domestic product grew at a 3.1 percent annual rate from the end of June through September. That's up from the 2.7 percent estimate BEA released last month, and well above its initial report — issued in October — that put the growth rate at 2 percent. Spending by consumers and governments has been greater than previously estimated.

Not all the morning's economic news is that positive, though. The Employment and Training says there were 361,000 first-time claims for unemployment insurance last week — up 17,000 from the week before.

And there's this cautionary note from Bloomberg News about the GDP report:

"The world's largest economy will be hard-pressed to maintain that pace of growth this quarter as global demand cools and companies limit spending and hiring ahead of looming tax increases and spending cuts. While a stronger housing market will provide some cushion, the Federal Reserve is pursuing record stimulus aimed at driving bigger gains for the expansion."

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

WAMU 88.5

Art Beat With Lauren Landau, July 30

You can keep things old school with a classic musical and an exhibit featuring watercolor paintings from the 1800s.

NPR

Farming The Bluefin Tuna, Tiger Of The Ocean, Is Not Without A Price

Scientists are trying to raise prized bluefin tuna completely in captivity. An experiment at a Baltimore university is the first successful attempt in North America.
NPR

Senate's Highway Trust Fund Bill Sets Up Conflict With The House

A short-term fix for the nearly empty Highway Trust Fund is a step closer to President Obama's desk. Congress has been talking about the long-term problems with the construction account, but the two chambers have not agreed on a long-term solution.
NPR

Some Loyal Foursquare Users Are Checking Out After Swarm Spinoff

Backlash to the company's move to break its app in two is costing it the users that loved Foursquare the most. "Why do I need two apps when I had one that provided both services?" asked one user.

Leave a Comment

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