Friday, October 26, 2012

U.S. Economy Sputters Along With Tepid 2 Percent Growth in Third Quarter

At the New York Times, "US Economy Grew at 2% Rate in 3rd Quarter."

And from James Pethokoukis at American Enterprise, "Weak GDP report shows no end in sight for the Long Recession." (via Memeorandum).

Obama Depression
The third-quarter GDP report was a nasty October surprise for a nation desperately in need of more jobs and higher take-home pay. The U.S. economy grew just 2.0% from July through September. At the current pace, the economy will grow just 1.8% this year, the same miserable pace as last year. “The economic recovery continues but at a very sluggish pace,” said economists John Ryding and Conrad DeQuadros of RDQ Economics in a research note “Over the first 13 quarters of the recovery, real GDP growth has averaged only 2.2%. And at 2.3%, the pace of growth over the last year has shown no signs of picking up.”

Also at Weekly Standard, "Average GDP Growth Less than Half of What Obama Predicted."