Tuesday, November 25, 2003
Economy grew 8.2% in 3rd Quarter
Some good news on the eonomic front according to this New York Times story (registration required). FYI, consumer spending counts for two-thirds of economic activity.
The economy grew at an 8.2 percent annual rate in the third quarter, the government reported this morning, a much more torrid pace than the 7.2 percent that was the initial estimate.
It is the fastest pace of growth since the first three months of 1984. While welcome, economists said growth at that level is not sustainable. Indeed, most expect the rate of growth is slowing in the current quarter.
