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October 29, 2005
U.S. Posts Strong Q3 Growth
Blasting through the economic pitfalls of devastating hurricanes and high energy prices, the U.S. economy grew at a hearty 3.8% in the third-quarter of this year, up from 3.3% in the second quarter.
The strong numbers were driven by federal and consumer spending, the U.S. Commerce Department said. If the natural disasters had not occurred, growth could have gone as high as 4% in the third quarter, economists noted.
While continued consumer spending is music to retailers' ears, economists also warned that Christmas sales could still fall short in the face of high winter energy costs.
Posted by Blacks on October 29, 2005 10:22 AM
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