Economy returns to growth after a year of declines

**Devil505** · 29th October 2009 10:59 AM

By Lucia Mutikani Lucia Mutikani â€“ Thu Oct 29, 9:51 am ET WASHINGTON (Reuters) â€“ The U.S. economy grew in the third quarter for the first time in a year, beating market expectations, as consumer spending and new home-building rebounded, signaling the end of the worst recession in 70 years.

The Commerce Department, in its first estimate of third-quarter grossdomestic product on Thursday, said the economy grew at a 3.5 percentannual rate, the fastest pace since the third quarter of 2007, aftercontracting 0.7 percent in the April-June period.

The growth pace in GDP, which measures total goods and services outputwithin U.S. borders, was above market expectations for a 3.3 percentrate. The economy last grew in the second quarter of 2008.

"Better than expected GDP is confirming that the Great Recession hasended," said Kevin Flanagan, fixed-income strategist for Global WealthManagement at Morgan Stanley in Purchase, New York.

http://news.yahoo.com/s/nm/20091029/...economy_gdp_14

Regardless of the Fox News/GOP lies claiming the opposite, our economy is improving just as our moral standing in the world already has.

A great man once said:

Thetruth is incontrovertible, malice may attack it, ignorance may deride it, butin the end; there it is.

Winston Churchill

**Gypsy** · 29th October 2009 11:13 AM

Honestly it's remarkable that it's going as well as it is considering what had to be overcome. Eight years of bad policy and pie in the sky promises. I thought it would take longer to be honest.

**michaelr** · 29th October 2009 11:16 AM

There is already a thread on this bunk...

http://www.politicalhotwire.com/foru...ad-thats-over/

**lakeman** · 29th October 2009 11:20 AM

Recessions are generally measured in terms of how long they are. And on average they last about two years.

I do want to point out that one should not subscribe to all the hype. If your title is correct and this recession has lasted a year then it is certainly a short recession. Don't we all know however that there has been more hype about it than anything else? And of course the statement about it being the worst in 70 years is a complete fabrication since by any measure one picks there have been worse recessions.

But is it really improving that much? Or are the improvements just kind of standard and expected for a recession that is already a year old.

As recessions go this one was never really that bad and the meager improvement we are having is just to be expected.

**Morgan** · 29th October 2009 12:15 PM

All this back and forth stuff just makes you want to.....

http://www.youtube.com/watch?v=6wS5xOZ7Rq8

**mjollnir** · 29th October 2009 12:20 PM

Oh please...don't believe the bullshit. The dollar is on it's steepest decline ever! It's worthless! Something that has taken 90+ years to create is not going to be cured in a few months. This is all smoke and mirrors folks...don't believe it!