The Commerce Department reported today that the US economy expanded by a 2.8 percent annual rate in the third quarter. This was less than the 3.5 percent the government expected and reflects a smaller gain in consumer spending as well as a larger-than-projected trade deficit.
Ã¢â‚¬Å“We expect profits to continue climbing this quarter as GDP rises further,Ã¢â‚¬Â Joseph Brusuelas, a director at MoodyÃ¢â‚¬â„¢s Economy.com in West Chester, Pennsylvania, said before the report. Ã¢â‚¬Å“This will add momentum to the recovery by motivating firms to expand and hire again early next year.Ã¢â‚¬Â
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