Economy grew at 2% rate in third quarter
The U.S. economy grew at an annual rate of 2% in the third quarter, slightly better than expected, with help from a healthier housing sector and a pickup in defense spending, The New York Times reports. But economists warn that growth could slow in the final quarter of the year if weakness in exports persists and businesses remain cautious because of fiscal uncertainty in Washington, D.C. The new figure, released by the Commerce Department today, is the government's first estimate of growth in the third quarter. It compares favorably with the 1.3% pace of growth in the second quarter. In the first quarter of 2012, the economy also grew by 2%. Read the full story here.
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