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U.S. economy grows at 2 percent rate

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Friday, October 26, 2012

The U.S. economy grew at an annual rate of 2% in the third quarter, slightly better than expected.

The new figure, released by the Commerce Department on Friday, is the government’s first estimate of growth in the third quarter. It compares with the 1.3 percent pace of growth in the second quarter. In the first quarter of 2012, the economy also grew by 2 percent.

The slow pace of growth since the end of the last recession has been a dominant theme in the presidential race, with Republicans pointing to recent data as evidence that the economy is moving too slowly to make a meaningful dent in unemployment.

Read more at The New York Times.

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