Good news the US economy grew in the third quarter!
By Jean-Wisly Simon
October 26, 2012
The US economy shows signs of vitality in the third quarter. The figures seem to indicate the economy is headed in positive territory; that is very good news for all of us. But isn’t it a little too late for President Obama?
One thing is certain though; we all have strong desire when it comes to job. And we all suffer because of the sluggish economy, sorry, most of us. As far as Job seekers are concerned they hope the trend keep moving in the right direction.
Good policies, bad policies, we are in it together. We’d rather have the good ones; however, if inherited bad ones something needs to be done to transform them. As you can see, it is a process. It might take more time than we would want.
One way to participate in that process, you have to vote. Remember, no one expects to be totally satisfied with anything. Sometimes, you have to choose between two evils. Isn’t it said, “Better the devil you know than the devil you don’t know”?…
We suggest you see more details related to the economy growth in the following articles:
(BBC)—The world’s largest economy expanded at an annualised rate of 2% in the third quarter, the Commerce Department said.
The jump was partly due to a large increase in government spending.
The figures are the one of the last pieces of important economic data before the US presidential election between Barack Obama and his challenger Mitt Romney on 6 November.
Federal government expenditures and gross investment increased 9.6% compared with the previous quarter, while national defense spending rose by 13%. The Commerce Department said there was a jump in personal consumption as well.
A drought in the US, which was the worst for 50 years, cut farm output and took 0.4 percentage points off the GDP figures, the Commerce Department said.
With more than 20 million Americans unemployed and a huge public deficit, the economy has become one of the central issues of the campaign.
The US has now been growing for more than three years, since June 2009.
“Growth came in a little higher than we had feared, largely because of the big jump in federal spending,” said Paul Ashworth, chief US economist at Capital Economics.
“But the economy is still not growing rapidly enough to create sufficient jobs to reduce the unemployment rate.”
Economic fight
Mr Romney has repeatedly challenged President Obama’s record, saying ”we have not made the progress we need to make”….
Q3 GDP: U.S. economy picks up
NEW YORK (CNNMoney) –” U.S. economic growth picked up in the third quarter, boosted by stronger consumer spending, an improving housing sector and increased defense spending….”
Remember to vote on or before November 06, 2012!
We’ll be back…
