The Obama Boom is back! The media is celebrating the fact the US economy grew at a 2.5% rate in the 3rd Quarter.
US economic growth increased at its fastest in a year in the third quarter as consumers and businesses set aside fears about the recovery and stepped up spending, creating momentum that could carry into the final three months of the year.
At the same time, slightly fewer people sought unemployment benefits last week, though level remains elevated above 400,000.
Though part of the increase came from the reversal of temporary factors that had restrained growth, the expansion was a welcome relief for an economy that looked on the brink of recession just weeks ago.
U.S. gross domestic product expanded at a 2.5 percent annual rate in the third quarter, the Commerce Department said in its first estimate on Thursday. That was a big acceleration from the 1.3 percent pace in the April-June quarter and matched economists’ expectations.
Good times are here again! Seriously, 2.5% growth is nothing to brag about. This will not stop the media from declaring things are good again and that Obama is an economic genious . If the economy keeps up at this pace, the media will tell people how good things are in America.
Tags: 3rd Quarter GDP, The Obama Boom
