Economic Growth Exceeds Forecast
A rash of favorable economic reports, including a jump in consumer spending and a drop in layoffs, are offering hope for a pickup.
Moreover, new Commerce Department data show U.S. gross domestic product grew 2.6 percent in the third quarter — not 2.5 percent as initially reported. The encouraging signs are prompting some economists to revise fourth-quarter and 2011 growth estimates upward.
Source: The Wall Street Journal, Conor Dougherty (12/23/10)