U.S. Economy Grew at 2.5 percent Rate in Third Quarter

Published on:
27 October 2011 at 08:04 a.m. ET

http://www.insidearm.com/news/00011172-us-economy-grew-at-25-percent-rate-in-thi/

The U.S. Commerce Department’s Bureau of Economic Analysis said Thursday that gross domestic product (GDP) grew at a 2.5 annual percent rate in the third quarter of 2011.

Commerce said that Real GDP rose at a 2.5 percent annual rate, consistent with private-sector expectations, and up from the 1.3 percent increase in the second quarter and a significant step-up from the 0.4 percent gain in the first quarter.

“In spite of headwinds hitting the U.S. economy, today’s GDP report–the ninth straight positive quarter–reflects strong consumer spending and export growth and continued investment by American businesses,” U.S. Commerce Secretary John Bryson said. “Despite today’s encouraging numbers, we must do more to create jobs. That’s why it’s critical that Congress act to pass the measures in the president’s Jobs Act.”

U.S. Economy Grew at 2.5 percent Rate in Third Quarter

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