Don't forget the biggie---
DESPITE "unprecedented natural disasters" and "all time high oil prices."
--of course I truely expect to see Jimmy Carter on Good Morining America tomorrow with dissent on economy and how HE would fix it
Posted 10/28/2005 8:41 AM Updated 10/28/2005 10:04 AM
Economic growth 3.8%, stronger than expected in Q3
WASHINGTON (Reuters) ? The economy shook off headwinds from hurricanes Katrina and Rita to grow at a faster-than-expected 3.8% annual rate in the third quarter, a Commerce Department report showed Friday.
Strong spending by consumers and the government helped power the expansion as growth in gross domestic product ? the measure of all goods and services produced within U.S. borders ? accelerated from the second quarter's 3.3% rate.
Economists had forecast GDP would advance at a 3.6% rate in the July-to-September quarter. The economy has now expanded faster than 3% for 10 straight quarters.
In its first snapshot of third-quarter growth, the Commerce Department said it could not separate the economic effects of the twin hurricanes that struck the U.S. Gulf Coast in late August and September, though it said incomes likely suffered a $40-billion blow from lost wages and rents.
Third-quarter GDP growth would have been more robust if the storms had not placed some drag on incomes.
