Economy Grew at 2 Percent Rate in Third Quarter

WASHINGTON (AP) - The U.S. economy grew a little slower over the summer than the government had earlier estimated because businesses cut back more sharply on restocking of shelves.

The Commerce Department says the economy grew at an annual rate of 2 percent in the July-September quarter, lower than an initial 2.5 percent estimate made last month. The government also said after-tax incomes fell by the largest amount in two years, reflecting the high unemployment and lower pay raises.

The downward revision was largely because of a lower estimate for inventory rebuilding. Economists believe this could lead to stronger growth in the current quarter, if businesses foresee more demand.

Economists believe growth will strengthen modestly to around 3 percent in the fourth quarter. But that could be slowed by the weaker income growth.

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savemycountry911

WOW, AOL is spin city. Does anybody believ this nonsense?.........I mean besides the lunatic left.

November 27 2011 at 9:50 PM Report abuse +1 rate up rate down Reply
1 reply to savemycountry911's comment
savemycountry911

believe

November 28 2011 at 11:14 PM Report abuse rate up rate down Reply
johnskii

If you pay someone enough money they will publish or write anything......

November 22 2011 at 6:48 PM Report abuse +1 rate up rate down Reply
someoneole

Economy grew at 2 percent rate in third quarter for the rich.

November 22 2011 at 12:25 PM Report abuse +1 rate up rate down Reply
midsr4kids

Fabricated story, for the protection of the "ONE" . Just look around, does the economy look like it's growing. All is see is empty stores and no USA manufacturing base at ALL...lets re-elect him cause he's black..he deserves another chance...

November 22 2011 at 10:58 AM Report abuse -1 rate up rate down Reply
jdykbpl45

More lies from Obama's minions. Figures do not lie but liars figure.

November 22 2011 at 10:27 AM Report abuse +1 rate up rate down Reply
ltmci

Typical hype and revise it the next month, who writes this BS .

November 22 2011 at 9:46 AM Report abuse +1 rate up rate down Reply
marine1942

Another failure by Ben n Berry

November 22 2011 at 9:29 AM Report abuse +1 rate up rate down Reply