Posted by | October 26, 2012 11:08 | Filed under: Top Stories

Up 2 % with housing sector and defense spending up.

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.

…there were several elements of good news for the White House in Friday’s report. Consumer spending rose at a seasonally adjusted annual rate of 2 percent, compared with 1.5 percent in the second quarter. Residential investment increased at an annual rate of 14.4 percent in the third quarter, versus 8.5 percent in the second quarter, a positive sign for the housing sector.

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Copyright 2012 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.