GO OBAMA GO OBAMA GO OBAMA GO! Let's hear it for the president! WOW 5% in Q3 after Q2 growth of 4.2%! Best in over a decade! Time for a gooberment shutdown to slow down the OBAMA ECONOMY! The U.S. economy roared into overdrive in the third quarter as consumer and business spending fueled the biggest expansion in more than a decade.Gross domestic product grew at a 5 percent annual rate from July through September, the biggest advance since the third quarter of 2003 and up from a previously estimated 3.9 percent, revised figures from the Commerce Department showed today in Washington. The median forecast of 75 economists surveyed by Bloomberg projected a 4.3 percent increase in GDP.Consumer spending is poised to grow in 2015 as stronger employment and lower gasoline prices boost household buying power, one reason why the Federal Reserve will probably raise interest rates next year. Other aspects of GDP -- inventories, trade and government spending -- are likely to moderate, indicating growth will ease at the end of 2014. And durable goods orders declined last month, another sign last quarter’s surge may not be maintained.“Consumer spending in particular looks like it’s on a pretty good track right now,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York. “Energy prices are down, labor markets have good momentum, so we’re in pretty good shape heading into 2015.”http://www.bloomberg.com/news/2014-1...ding-gain.html
Originally Posted by olevetonahill
