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U.S. economy expands at 4.1% rate
U.S. economy expands at 4.1% rate
Gov. Scott announced this morning that the state shaved 0.3% off its unemployment rate, dropping it to 6.4% compared to the nation’s 7% rate. It’s Fla.’s lowest unemployment rate in five years and a key indicator of future growth in the housing market.
WASHINGTON (AP) – Dec. 20, 2013 – The U.S. economy grew at a solid 4.1 percent annual rate from July through September, the fastest pace since late 2011 and significantly higher than previously believed. Much of the upward revision came from stronger consumer spending.
The Commerce Department’s final look at growth in the summer was up from a previous estimate of 3.6 percent. Four-fifths of the revision came from stronger consumer spending, primarily in the area of health care.
The 4.1 percent third quarter growth rate came after the economy expanded at a 2.5 percent rate in the second quarter. Much of the acceleration reflected a buildup in business stockpiles.
Economists expect growth has slowed to between 2 percent and 2.5 percent in the current quarter, in part because they believe inventory growth has slowed.
The third quarter rise in the gross domestic product (GDP), the economy’s total output of ... more

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