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Sunday, Jun 26, 2022

Economy Grows Faster Than Thought in 3rd Quarter

The economy grew at a 4 percent annual rate from July through September, even faster than previously estimated, according to government figures that suggest the expansion may continue at a similar pace into 2005.


The new reading on gross domestic product, released Wednesday by the Commerce Department, exceeded the previous estimate of a 3.9 percent growth rate. It marked the best showing since the opening quarter of this year and was up from a 3.3 percent pace in the second quarter.


The economy has expanded at rates exceeding three percent for the past six quarters and seems poised to keep growing. Last Friday, the White House estimated GDP will expand 3.5 percent in 2005, a rate economists believe keeps unemployment from rising.


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