WASHINGTON (WKOW)-- The U.S. economy expanded at a slightly faster 2 percent annual rate from July through September, brought on by consumer spending and a burst of economic government spending.
The Commerce Department says growth improved from the 1.3 percent rate in the April-June quarter. The pick up in growth may help President Obama's message that the economy is improving. Still, growth remains too weak to rapidly improve hiring. And the 1.74 percent rate for the 2012 trails last year's 1.8 percent growth, a point GOP nominee Mitt Romney will emphasize.
The report is the last snapshot of economic growth before Americans choose a president on November 6. Growth was held back by the first drop in exports more than three years and flat business investment and software.