Daily Economic Indicator: Economy expanded at annual rate of 2.5%

10/27/2011 | Bloomberg

The Commerce Department released figures that show the economy accelerated at a faster pace in the third quarter than in the previous three months. Gross domestic product expanded at an annual rate of 2.5%, with household purchases up 2.4%. "There is some gain in momentum after a very weak first half," said Robert Dye, chief economist at Comerica. "We need to get the jobs machine going and get the housing market moving in the right direction."

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