U.S GDP Stunner: 3.5% Growth in Third Quarter

http://www.bloomberg.com/apps/news?pid=20601068&sid=aKMkAFoNNzlM

The U.S. economy returned to growth in the third quarter after a yearlong contraction as government incentives spurred consumers to spend more on homes and cars. The world’s largest economy expanded at a 3.5% pace from July through September, figures from the Commerce Department showed in Washington. Household purchases climbed 3.4 percent, the most in two years.

America's economy-A joyless recovery

Oct 29th 2009 | WASHINGTON, DC
From The Economist print edition

New figures suggest that America has at last moved out of recession

http://www.economist.com/world/unitedstates/displayStory.cfm?story_id=14754738&source=features_box_main   New figures suggest that America has at last moved out of recession

THE American government reported on Thursday October 29th that gross domestic product rose at an annualised rate of 3.5% in the third quarter compared with the second. This was the first increase since the second quarter of 2008. It backs up other evidence that the recession ended in the third quarter or just before, though the official decision, by the National Bureau of Economic Research, a group of academic economists, is still some way off. Robert Gordon, a member of this group, is confident that the recession, which began in December 2007, ended in June. But at 18 months that would still make it the longest since 1933.

Consumers are sceptical. Their confidence fell in October, according to the Conference Board, a research group. A poll for The Economist by YouGov found that 35% of respondents think the economy is getting worse; just 28% think it is getting better. Unemployment is still rising, and even a White House adviser, Christina Romer, predicts it will remain “severely elevated” throughout next year.

http://www.thestreet.com/story/10618752/1/gdp-stunner-35-growth-in-third-quarter.html 

GDP Stunner: 3.5% Growth in Third Quarter

The U.S. gross domestic product grew by a faster-than-expected 3.5% in the third quarter, the best reading in two years and the first time the economy has shown growth in four quarters. Expansion was expected in the three-month period that ended in September, though analysts had forecast 3.2% growth. In the second quarter, GDP decreased by 0.7%.

http://online.wsj.com/article/SB125681479289215647.html

Stocks posted their biggest gain in more than two months Thursday, as a bigger-than-expected expansion in the U.S. economy sent the Dow Jones Industrial Average back within sight of the 10000 level.

http://in.reuters.com/article/usMktRpt/idINN2937163220091029

* GDP turns positive in Q3, fuels recovery hopes

* P&G and Colgate beat profit views, Exxon misses

* Dow up 2.1 pct; S&P 500 up 2.3 pct, Nasdaq up 1.8 pct