Friday, October 26, 2012
US economy grows 2%
The US Commerce Department announced today gross domestic product expanded at a 2.0 percent annual rate, accelerating from the second quarter's 1.3 percent pace.
The report comes a little more than a week before the election in which President Barack Obama is trying to fend off Republican challenger Mitt Romney.
Consumer spending, which accounts for about 70 percent of US economic activity, grew at a 2 percent rate after increasing 1.5 percent in the prior period.
The report comes a little more than a week before the election in which President Barack Obama is trying to fend off Republican challenger Mitt Romney.
Consumer spending, which accounts for about 70 percent of US economic activity, grew at a 2 percent rate after increasing 1.5 percent in the prior period.
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