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The government reported that GDP grew by 3.8% during the third quarter. Economists were expecting a growth rate of 3.6%. The economy has now grown by over 3.3% for ten straight quarters. In real terms, the economy has expanded by 13.4% over the last four year. The GDP report will be updated two more times, and I still think the third-quarter growth rate could be revised to over 4%.

Posted by edelfenbein at October 28, 2005 9:27 AM