US economy grew at 3.5 percent rate in Q3

[Omaha Steve]

Source: AP-Excite

By MARTIN CRUTSINGER

WASHINGTON (AP) — The U.S. economy grew at a solid annual rate of 3.5 percent in the July-September quarter, propelled by solid gains in business investment, export sales and the biggest jump in military spending in five years.

The third quarter result, which was slightly better than economists expected, followed a 4.6 percent rebound in the second quarter, the Commerce Department reported Thursday. The economy shrank at a 2.1 percent rate in the first three months of the year due to a harsh winter.

The report was the first of three estimates of the gross domestic product, the economy's total output of goods and services. Analysts believe the economy is maintaining momentum in the current quarter, with a big fall in gas prices expected to bolster consumer spending. After the roller-coaster first- and second-quarter gyrations, the economy is poised to achieve consistently stronger growth for the rest of this year and all of 2015.

"The economy does appear to be accelerating of late," said Dan Greenhaus, an analyst with investment firm BTIG. He added that the GDP report showed an economy "on a sounder footing today than at any time over the last few years."

FULL story at link.



In this photo taken on Sept. 17, 2014, Elaine Timms, an employee of Phoenix of Anderson, sorts fabrics inside the company's warehouse in Williamston. S.C. The Commerce Department releases third-quarter gross domestic product on Thursday, Oct. 30, 2014. (AP Photo/Anderson Independent Mail, Nathan Gray)


Read more: http://apnews.excite.com/article/20141030/us--economy-gdp-6dddf4fc26.html

[johnblim]

1. That's a good number!

[candelista]

5. Shallow empiricism.

[WI_DEM]

2. GD that Obama! Can't he do anything right!?

[candelista]

6. President Obama did this?

I don't think so.

[Fred Sanders]

3. I blame Obama, freaky media is all abuzz about a fake epidemic, no time for the good news that

really matters. What a freakshow.

[Sunlei]

4. 3.5 growth a quarter, profits on the backs of low wages and no dust masked workers

[candelista]

7. +1.

Yes.

[JoePhilly]

8. What we need is negative growth!!!!!

[Shemp Howard]

9. What we need is private sector union growth. (nt)

[JoePhilly]

10. Well, click your heels and make it so.

And route for a worsening economy, cause that will definitely help!!

[Shemp Howard]

12. I am rooting for the factories to come back.

I want to see all the shut down union factories reopen. Those factory jobs allowed the middle class to thrive, and that's where the poor could join the middle class.

But no one cares about that. NO ONE has any plans to reopen those factories.

I'm not minimizing the good economic news of recent. But I'm not jumping with joy either. It's tough to jump with joy when I see all the closed down, rusting factories in my region.

And don't think people who once work there have found comparable jobs elsewhere. Because they haven't. And it looks like they never will.

[Sunlei]

11. what we need is that worker paid about $20 an hour,in safety shoes, long sleeves, gloves & dust mask