PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Kenneth E. Phillipps who wrote (498167)	11/25/2003 8:35:53 AM
From: JakeStraw	Read Replies (1) of 769670

Economy Surged in 3rd Quarter, Profits Up Tuesday November 25, 8:31 am ET WASHINGTON (Reuters) - Robust business and consumer spending powered the U.S. economy ahead at an even brisker clip in the third quarter than first thought, the government said on Tuesday in a report that showed corporate profits growing at the fastest rate in more than a decade. Gross domestic product, or GDP, shot up at an 8.2 percent annual rate, more than double the second quarter's 3.3 percent gain and the strongest quarterly advance in 19-1/2 years. A month ago, the Commerce Department said GDP advanced at a 7.2 percent rate. Its revision surpassed Wall Street economists' forecasts for a 7.8 percent gain. The report showed the long-awaited revival in corporate investment may have taken hold, with nonresidential business spending surging at a 14 percent "annual rate, double the second quarter's 7.3 percent and ahead of the initially reported third-quarter rise of 11.1 percent. biz.yahoo.com

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