The Associated Press can try to downplay this report all they want, but the reality is that 3.7% GDP growth with low inflation, low unemployment and low interest rates is outstanding.
Once again, I have to ask, where is that horrible economy that John Kerry keeps mouthing off about? He says this is the worst economy since The Great Depression. That is patently absurd. I guess if he keeps repeating the same lie over and over again, somebody is bound to believe him. But, to everybody else, he just looks ridiculous.
WASHINGTON (AP) — The economy grew at a 3.7 percent annual rate in the third quarter — a pace slightly better than in the spring but not as strong as many analysts expected. Friday’s government report was the last broad snapshot of economic activity before Election Day and provided political ammunition for both sides.
The July-to-September reading on gross domestic product — the broadest barometer of the economy’s health — followed a 3.3 percent growth rate in the prior quarter, the Commerce Department reported.
Analysts were predicting that the economy, which Federal Reserve Chairman Alan Greenspan had said hit a “soft patch” in the late spring, would gain traction and expand at a more brisk 4.3 percent rate in the third quarter.
GDP measures the value of all goods and services produced within the United States.
“The economy right now is running in the middle lane. We’re not in the fast lane but we’re not on the shoulder or in the break down lane,” said Richard Yamarone, economist with Argus Research Corp.
Although the third quarter’s performance fell short of analysts’ expectations, it still marked the best growth seen since the first three months of this year.
The entire article is right here.
