Economic activity expanded at an energetic 3.8 percent annual rate in the third quarter, providing vivid evidence of the economy’s stamina even as it coped with the destructive forces of hurricanes Katrina and Rita.
The latest snapshot of the country’s economic performance, released by the Commerce Department on Friday, even marked an improvement from the solid 3.3 percent pace of growth registered in the second quarter. Growth in the third quarter was broad-based, reflecting brisk spending by consumers, businesses and government.
